Front month feeder cattle futures finished the day with $0.95 to $1.17 gains. Cash trade picked up on Thursday; the USDA confirmed $148 to $156 sales on Thursday, citing $152 as the bulk of business in KS and $154 - $155 for NE. Feeder cattle closed $2.12 to $2.50 stronger on the board, and Nov expired at $175.85. The 11/16 CME Feeder Cattle Index was 41 cents higher to $175.39.Â
USDA will release their monthly Cattle on Feed report this afternoon. An average of published trade estimates puts On Feed November 1 at 98.3% of year ago. October placements are seen at about 96.3% of year ago, with October marketings at 100.9%.Â
USDA’s Wholesale Boxed Beef prices were a penny higher in Choice on Thursday and 39 cents stronger in Select. USDA estimated the week’s FI cattle slaughter at 515k head through Thursday, up by 5k head wk/wk. Â
Dec 22 Cattle  closed at $152.750, up $0.950,
Feb 23 Cattle  closed at $155.400, up $1.150,
Apr 23 Cattle  closed at $158.900, up $1.175,
Nov 22 Feeder Cattle  closed at $175.850, up $0.150
Jan 23 Feeder Cattle  closed at $179.975, up $2.500
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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