Cattle Market Extending Gains

Live cattle futures gained $0.92 to $1.02 on Wednesday, with Dec futures again setting a new 7-month high. Feeder cattle futures offset Tuesday losses with gains of as much as $1.70 ahead of the holiday. The 11/26 CME Feeder Cattle index was $145.02 after a 33 cent bump. Wholesale boxed beef prices were mixed. Choice boxes were $0.40 higher, and select boxes dropped by $1.65. The USDA has reported minimal cash sales activity, with KS reporting some $118 activity later Wednesday afternoon. USDA estimated the FI cattle slaughter weekly total to be 341,000 head through Wednesday. The shortened week is 12,000 head behind last week’s total as well as 15,000 head behind the same Wednesday last year.

--provided by Brugler Marketing & Management




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