Cattle Futures Finished Mixed on Wednesday

Live cattle futures were mixed again at Wednesday’s close, with a 45 cent loss for nearby Dec contracts. Nearby feeder cattle futures were lower by $1.05 to $1.35. Beef exports to China were at an all time high for the month of September, shipping 3 million lbs for the month, still a drop in the bucket! The 11/04 CME Feeder Cattle index was down $0.21 to $146.24. Wholesale boxed beef prices were higher for Wednesday, narrowing the Chc/Sel spread back to $25.61. Choice boxes posted a gain of 68 cents, and select boxes finished higher by $1.71. Wednesday’s FCE online auction had no completed trades. NE and KS cattle were listed at $117, while TX had 146 head for $113. Feedlots passed on packer bids. The USDA estimated cattle slaughter is ahead of last week’s pace, with a running weekly total of 352,000 head through Wednesday.

DEC 19 Cattle closed at $119.000, down $0.450,

FEB 19 Cattle closed at $124.700, up $0.025,

APR 20 Cattle closed at $125.650, down $0.175,

NOV 19 Feeder Cattle closed at $146.800, down $1.050

JAN 19 Feeder Cattle closed at $144.425, down $1.350

MAR 19 Feeder Cattle closed at $143.975, down $1.225

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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