Cattle Continued Lower

Thursday's Export Sales report will be out at 7:30 central. Wednesday’s cattle market extended the pullback with 30 to 90 cent losses. The October contract settled the session 10 cents weaker, for a net $2.17 drop for the week to date. Dec fats are down by $3.17 for the week. The front month feeder cattle futures market was $1.07 to $2.70 on the session, leaving October at a net $6.90 loss for the week. The USDA had 14k head of cash trade for Wednesday’s update, with sales near $183 in the South and $184 in the North. CME’s 9/26 Feeder Cattle Index dropped 63 cents to $253.27. 

USDA’s Wholesale Boxed Beef report had a $1.41 increase for choice in the PM update, as Select fell by 59 cents. USDA estimates the week’s FI cattle slaughter as 381k head through Wednesday. That is up 7k head for the week and is 1,000 more than the same week last year. 

Oct 23 Cattle  closed at $184.900, up $0.100,

Dec 23 Cattle  closed at $188.175, down $0.300,

Feb 24 Cattle  closed at $192.400, down $0.650,

Sep 23 Feeder Cattle  closed at $251.525, down $1.075

Oct 23 Feeder Cattle  closed at $252.250, down $1.625