Cattle Rallying to Close Out the Week
Live cattle futures are up $2.62 to $2.97 across the front months on Friday. Cash trade has yet to get kicked off this week, with a few $218 sales reported in the north reported by the USDA. The Friday morning Fed Cattle Exchange online auction showed no sales on the 2,612 head offered, with bids of $222-226. Feeder cattle futures are rallying $5.47 to $7.70 across most contracts at midday. Near limit losses in corn are supportive. The CME Feeder Cattle Index was $1.14 lower on October 7 to $336.73.
Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel at $18.68. Choice boxes were down 15 cents to $374.70, with Select $4.29 higher to $356.02. USDA estimated Federally inspected cattle slaughter for Thursday at 101,000 head, taking the weekly total at 424,000 head. That was up 14,000 from the week prior but 25,661 head below the same week last year.
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Oct 26 Live Cattle are at $224.500, up $2.625,
Dec 26 Live Cattle are at $226.525, up $2.975,
Feb 27 Live Cattle are at $228.775, up $2.925,
Oct 26 Feeder Cattle are at $343.500, up $5.475
Nov 26 Feeder Cattle are at $341.775, up $6.900
Jan 27 Feeder Cattle are at $336.125, up $7.700
On the date of publication, Austin Schroeder 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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