Cattle Weakness Pushing to Friday
Live cattle futures are down $1.55 to $1.80 across the fr0nt months on Friday. Cash trade has been active at $218 in the South, and $214-216 in the North. The Friday Fed Cattle Exchange online auction showed sales of $215 on 199 of the 1,854 head offered. Feeder cattle futures are falling $4.40 to 5.25 at midday. The CME Feeder Cattle Index was back down $3.88 on November 4 to $342.76.
Wholesale Boxed Beef prices were mixed in the Friday AM report, with the Chc/Sel at $7.35. Choice boxes were down 83 cents to $360.73, with Select $1.07 higher to $353.39. USDA estimated Federally inspected cattle slaughter for Thursday at 110,000 head, taking the weekly total to 430,000. That was down 4,000 head from the week prior and 33,573 head below the same week last year.
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Dec 26 Live Cattle are at $212.850, down $1.550,
Feb 27 Live Cattle are at $216.025, down $1.600,
Apr 27 Live Cattle are at $218.650, down $1.775,
Nov 26 Feeder Cattle are at $319.825, down $5.225
Jan 27 Feeder Cattle are at $315.850, down $4.475
Mar 27 Feeder Cattle are at $311.525, down $4.400
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.
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