Cattle Futures Up for Friday

Live cattle futures are up by 35 cents to $119.35 at midday. Nearby feeder cattle futures are mixed at midday. The WASDE indicated that US 4th quarter beef production is 88 million lbs higher than October’s projection, forecasted to bring the yearly production to 27,036 million lbs (about 1% above last year). So far the FEC online auction has 1684 head offered with 119 sold at $115 in KS. The 11/06 CME Feeder Cattle index was down 17 cents to $146.09. The weekly cattle slaughter under federal inspection for the week ending 10/26 was 640,269 head, at an average dressed weight of 826 lbs. The USDA estimated cattle slaughter WTD as of Thursday was 470,000 head.

DEC 19 Cattle are at $119.350, up $0.350,

FEB 19 Cattle are at $125.125, up $0.275,

APR 20 Cattle are at $126.100, up $0.250,

NOV 19 Feeder Cattle are at $146.875, up $0.100

JAN 19 Feeder Cattle are at $145.450, down $0.325

MAR 19 Feeder Cattle are at $145.150, down $0.350

--provided by Brugler Marketing & Management

Market Commentary provided by:

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