Cattle Falling on Friday
Live cattle futures are down $3.27 to $5.10 in the nearbys, with pressure coming from month end and a sharply lower equity market. Cash trade has been quiet this week with a few sales reported by USDA at $223-226 live in the north and $350-365 dressed. The Friday morning Fed Cattle Exchange online auction showed no bids on the 2,636 head offered. Feeder cattle futures .are falling $8.32 to $9.72 at midday. The CME Feeder Cattle Index was up another 43 cents on October 28 to $351.43.
Wholesale Boxed Beef prices were mixed in the Friday AM report, with the Chc/Sel at $13.60. Choice boxes were down 40 cents to $366.88, with Select $1.65 higher to $353.28. USDA estimated Federally inspected cattle slaughter for Thursday at 109,000 head, taking the week’s total to 434,000 head. That was up 4,000 head from the week prior and 22,927 head below the same week last year.
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Oct 26 Live Cattle are at $224.000, down $3.275,
Dec 26 Live Cattle are at $221.200, down $5.100,
Feb 27 Live Cattle are at $224.375, down $5.100,
Nov 26 Feeder Cattle are at $338.150, down $8.325
Jan 27 Feeder Cattle are at $332.225, down $9.725
Mar 27 Feeder Cattle are at $328.050, down $9.725
On the date of publication, Austin Schroeder did not directly have a position 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.
