The fat cattle market is mostly higher through Friday’s midday, though gains are limited to 35 cents. Feeder cattle are off their lows, but down by $0.67 to $1.35 so far. The FCE auction for Thursday showed 429 of the 1,202 head listed were sold for $144 and $144.50. The unsold cattle saw bids of $144, but asks were $145-146. USDA reported cash sales from $144 to $148 on Thursday, calling the bulk of Southern trade $144 and the bulk of Northern trade $146. The CME Feeder Cattle Index for 10/5 was 11 cents higher at $175.69.
Wholesale Boxed Beef prices were firmer in the AM report, with Choice 19 cents higher to $247.55 cwt. and Select up $1.67 to $218.66 cwt. USDA estimated the week’s FI cattle slaughter as 510,000 head through Thursday. That compares to 507k last week and 484k head during the same week last year.
Oct 22 Cattle are at $145.425, up $0.100,
Dec 22 Cattle are at $148.350, up $0.475,
Feb 23 Cattle are at $151.950, up $0.325,
Oct 22 Feeder Cattle are at $175.325, down $0.400
Nov 22 Feeder Cattle are at $176.250, down $0.175
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
