Cattle Futures Gaining at Midday

So far through the midweek cattle market, the front month fat cattle prices are $0.95 to $1.35 in the black. October is the weakest on thin OI, but is still up by 62 cents. Feeder cattle continue higher through Wednesday as well, with gains of as much as $1.52 in the front months. The weekly FCE auction saw no sales for the 1,574 head listed. Bids were capped at $144.50 while asks stayed $146-$148. USDA confirmed limited WCB sales at $150, with no trade in NE or the Southern Plains. The CME Feeder Cattle Index was down by 81 cents on 10/17 to $172.27.  

Wholesale Boxed Beef prices were higher in the AM report with Choice up by $2.46 and Select $2 higher. USDA estimated FI cattle slaughter at 128k head for Tuesday, setting the week’s pace at 254,000 head. That is up from 239k head during the same week last year.  

Oct 22 Cattle  are at $149.075, up $0.600,

Dec 22 Cattle  are at $151.000, up $1.225,

Feb 23 Cattle  are at $153.950, up $1.175,

Oct 22 Feeder Cattle  are at $175.125, up $0.300

Nov 22 Feeder Cattle  are at $178.275, up $0.450