October fat cattle futures dropped $3.60 on Monday to expire at $146.77. The other front months closed firmer with losses limited to 52 cents. Cash trade last week saw the South mostly near $150 with Northern trade mostly $152. Feeder cattle closed Monday down by 25 cents to $1 in the front months. The Feeder Cattle Index from 10/28 CME was up another $1.63 to $177.48.
Wholesale Boxed Beef prices were mixed in the PM report with Choice up by 39 cents and Select down by 3. USDA estimated Monday’s FI cattle slaughter at 128k head, up by 2k from last week.
Oct 22 Cattle closed at $146.775, down $3.600,
Dec 22 Cattle closed at $152.475, down $0.525,
Feb 23 Cattle closed at $155.825, down $0.500,
Nov 22 Feeder Cattle closed at $177.625, down $0.250
Jan 23 Feeder Cattle closed at $179.450, down $0.925
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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