After a Tuesday pause in the cattle rally, front month futures are UNCH to 17 cents higher through the Wednesday midday. October contracts are the exception with a 40 cent drop so far. The weekly FCE auction had no sales for the 1,120 head listed, with asks firm at $150 and bids capped at $148. Feeder cattle futures are also trading mostly higher, as October is down by 5 cents to the other front months’ 75 to 82 cent gains. The 10/21 CME Feeder Cattle Index was 68 cents higher to $173.62.
Wholesale Boxed Beef prices were mixed in the AM report as Choice was down by 70 cents and Select was $2.08 stronger. USDA estimated Tuesday’s FI cattle slaughter as 129k head, setting the week to date pace as 255,000 head. That compares with 254k head last week and with 244k head during the same week last year.
Oct 22 Cattle are at $151.250, down $0.425,
Dec 22 Cattle are at $153.300, down $0.000,
Feb 23 Cattle are at $156.750, up $0.050,
Oct 22 Feeder Cattle are at $176.550, down $0.050
Nov 22 Feeder Cattle are at $178.775, up $0.850
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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