Cattle Market Still Looking for Cash Trade

Live cattle futures were 32 lower to 50 higher on Thursday. Feeder cattle futures dropped as much as $1.60 on Thursday due to higher feed costs and weakness in the back month finished cattle. USDA official slaughter for week ending Saturday October 5th is 644,676 head, with 47.2 % steer, 30.9% heifer and 20.1 % cow. The CME Feeder Cattle index another 3 cents higher on 10/16 to $145.15. Wholesale boxed beef prices close Thursday mixed to narrow the spread to 25.51. Choice boxes fell 17 cents to $218.11, with Select boxes noticing a gain of $1.23 up to $192.60. USDA estimated week to date FI cattle slaughter through Wednesday at 462,000 head. That is 5,000 head below last week and 9,000 lower from the same week last year. FCE’s trial sale this Friday has 941 head listed for sale. A few $111 sales were reported in the WCB this week according to USDA.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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