Live cattle futures are up another 35 to 50 cents on the session through midday. 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 are trading 25 to 60 cents in the black through midday. The 11/16 CME Feeder Cattle Index was 41 cents higher to $175.39.
Chinese customs data had 250k MT of beef imports during October, which set the year at 2.2 MMT. That is a yr/yr increase of 22% for the month and 13% for the YTD total.
Wholesale Boxed Beef prices were mixed in the AM report with Choice $2.39 weaker and Select 67 cents higher. USDA estimated the week’s FI cattle slaughter at 515k head through Thursday, up by 5k head wk/wk.
Dec 22 Cattle are at $153.150, up $0.400,
Feb 23 Cattle are at $155.925, up $0.525,
April 23 Cattle are at $159.350, up $0.450,
Jan 23 Feeder Cattle are at $180.675, up $0.700
Mar 23 Feeder Cattle are at $183.100, up $0.600
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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