Front month feeders are down by as much as 2% on $5 losses through midday. The live cattle market is down by 1.2% as well on $2.60 losses. USDA had $183-$184 as the bulk of cash business last week. The 9/29 CME Feeder Cattle Index was $252.21 after a 10c increase.
The Wholesale Boxed Beef report had Choice 46 cents lower and Select 23 cents weaker. USDA’s federally inspected cattle slaughter was estimated at 125,000 head on Monday. That was down 2,000 head wk/wk and 3,000 below the same week last year.
Oct 23 Cattle are at $182.425, down $2.000,
Dec 23 Cattle are at $185.775, down $2.575,
Feb 24 Cattle are at $190.600, down $2.575,
Cash Cattle Index was $184.000, from $183.00 last week
Oct 23 Feeder Cattle are at $248.750, down $4.575
Nov 23 Feeder Cattle are at $250.700, down $5.000
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. For more information please view the Barchart Disclosure Policy here.
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