Cattle Post Gains on Wednesday

Live cattle futures were up as much as 60 cents at Wednesday’s close. Feeder cattle futures gained $2.475 to $3.00 in the nearby contracts. The CME Feeder Cattle Index was up 4 cents on Oct. 8 to $144.45. Wholesale boxed beef saw another widening of choice/select spread Wednesday, at an unseasonably high $28.48. That is the widest the spread has been since June of 2017. Choice boxes were gained $1.00 to $214.60 and Select boxes dropped $0.94 to $186.12. USDA estimated FI cattle slaughter WTD through Wednesday at 350,0000 head, on pace with last week but down 4,000 head from last year. Wednesday’s FCE online auction saw no sales on the 666 head offered, with asks ranging from $108-109. Outside of that bids of $105 have been reported, with $110 asks.

OCT 19 Cattle closed at $108.475, up $0.300,

DEC 19 Cattle closed at $111.175, up $0.325,

FEB 20 Cattle closed at $117.300, up $0.600,

OCT 19 Feeder Cattle closed at $144.500, up $2.475

NOV 19 Feeder Cattle closed at $144.250, up $3.000

JAN 19 Feeder Cattle closed at $139.525, up $2.775

--provided by Brugler Marketing & Management

Market Commentary provided by:

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