Cattle Weaker at Midday

Fat cattle futures are giving back some of the triple digit Thursday rally, with midday losses of 12 to 40 cents. October contracts, with 24 still open, are 42 cents higher at $106.70 ahead of expiration. Feeder cattle futures are trading 47 to 82 cents higher, save for a 12 cent loss in midday Nov feeders. The CME Feeder Cattle Index for 10/28 was $134.34, down by $1.19. Cash sales on Thursday remained light, with $106 in the South and $103 in NE. USDA’s wholesale boxed beef prices maintained the strength for this AM, as Choice was up $1 and Select $3.10 higher. USDA estimated the week’s cattle slaughter at 464,000 head through Thursday. That trails LW by 16,000 head and trails last year by 1,000.

Dec 20 Cattle are at $107.750, down $0.225,

Feb 21 Cattle are at $109.975, down $0.400,

Apr 21 Cattle are at $113.400, down $0.125,

Nov 20 Feeder Cattle are at $135.600, down $0.125

Jan 21 Feeder Cattle are at $132.025, up $0.675

Mar 21 Feeder Cattle are at $131.500, up $0.525

--- provided by Brugler Marketing & Management




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