Live cattle futures are fading their Monday rally through midday with 15 to 77 cent weakness. The weekly FCE auction saw no bids on the 1,120 head listed, asks were $150. Last week’s cash trade was mostly near $148 in the South and near $151-$152 in the North. Feeder cattle futures are $0.45 to $1.40 weaker on the board past the October contract’s $1.30 gain on light OI. USDA’s OKC feeder auction review reported cash trades were $1-$5 higher with good volume – steers made up 60% of the volume, with 59% of the total under 600lbs. The 10/21 CME Feeder Cattle Index was 68 cents higher to $173.62.
Wholesale Boxed Beef prices were stronger in the Tuesday AM report with Choice up by $3.95 and Select $1.79 higher. USDA estimated Monday’s FI cattle slaughter as 126k head, even with last week and 6k head above the same Monday last year.
Oct 22 Cattle are at $151.625, up $0.025,
Dec 22 Cattle are at $153.275, down $0.850,
Feb 23 Cattle are at $156.700, down $0.275,
Oct 22 Feeder Cattle are at $176.950, up $1.275
Nov 22 Feeder Cattle are at $178.700, down $0.450
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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