Cattle Market Supported by $106 Cash Trade

Live cattle futures closed up 15 to 75 cents on Thursday. Light cash trade was reported in the South by USDA at $106. October LC options expire today, but futures have three weeks until they have to converge with cash. Feeder cattle futures ended Thursday 25 to 42 cents higher in the nearby contracts. Beef export sales last week totaled 12,491 MT. The CME Feeder Cattle Index was down 17 cents on Oct. 2 at $142.92. Wholesale boxed beef prices were mixed on Thursday. Choice boxes were down 91 cents to $212.06, with Select boxes up $1.31 to $187.21, narrowing the Chc/Select spread to $24.85. USDA estimated week to date FI slaughter is 467,000 head, which is down 4,000 from the same Thursday last year.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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