Feeder cattle futures are on the rally with 55 cents to $1.40 gains through midday. Fat cattle futures are trading 7 to 75 cents in the black as well on the weaker grain market. USDA confirmed some moderate cash business on Wednesday from $150 in the South to $152-153 in the North and WCB. The 11/8 CME Feeder Cattle Index was $176.30, down by 29 cents. Â Â
FAS reported 13,724 MT of beef bookings in their weekly Export Sales report. That was up 49% from the week prior, but was down 34% from the same week last year. Shipments were 18,088 MT on the week, for a yearly total of 807k MT – record pace.Â
Wholesale Boxed Beef prices were mixed in the AM report with Choice down 17 cents and Select $3.35 higher. USDA estimated the week’s FI cattle slaughter at 381k head through Wednesday. That compares to 385k head last week and 367k head during the same week last year.Â
Dec 22 Cattle  are at $152.300, up $0.725,
Feb 23 Cattle  are at $154.350, up $0.200,
April 23 Cattle  are at $157.875, up $0.100,
Nov 22 Feeder Cattle  are at $178.275, up $0.550
Jan 23 Feeder Cattle  are at $180.875, up $1.225
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.
/Technology%20abstract%20by%20TU%20IS%20via%20iStock.jpg)