Live cattle closed the first trade day of the week $0.50 to $1.42 higher, led by triple digit gains in Dec and Feb contracts. Front month feeder cattle rallied $0.95 to $2.30 on the day. USDA had last week’s cash market as $146-$148 in the North and $145 in the South. USDA reported 7,500 head of feeders were sold in their OKC Auction Review, down from last week’s 8,521 head. 52% sold were steers, and 66% were <600 pounds. The CME Feeder Cattle Index was up 8 cents to $174.11 on 10/13 to $174.11.
Wholesale Boxed Beef prices were $1.16 higher in Choice and $2.67 higher in Select on Monday. USDA estimated FI cattle slaughter for Monday at 126k head, compared to 128k head last week and 116 from the same week last year.
Oct 22 Cattle closed at $147.875, up $0.925,
Dec 22 Cattle closed at $149.200, up $1.425,
Feb 23 Cattle closed at $152.200, up $1.100,
Oct 22 Feeder Cattle closed at $174.750, up $0.950
Nov 22 Feeder Cattle closed at $176.400, up $1.625
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.
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