Cattle Market Higher for Thursday

Live cattle futures were are up 70 cents to $1.12 at midday, with Dec options expiring tomorrow. Feeder cattle futures are trying to recover some of yesterday’s losses, with midday gains of 40 to 50 cents. The 12/03 CME Feeder Cattle index was $145.19 after gaining 16 cents. Weekly beef export sales from the USDA were shown at 12,181 MT, which were 46% lower than the week prior, but only 5.57% less than the same week last year. Wholesale boxed beef prices were again lower. Choice boxes were shown $1.11 lower, and select boxes were $1.32 lower. Monthly Census data converted to pounds put October beef shipments at 248.6 million lbs. The FCE online cattle auction sold 860 of the 1,189 head listed, at a weighted average price of $118.36. Private reports show $119 cash sales in KS, with the USDA reporting light activity in the $117- 119.50 range. USDA estimated the week to date FI cattle slaughter at 361,000 head through Wednesday, last week was 341,000 head (ahead of the holiday) and the same week last year was at 360,000.

DEC 19 Cattle closed at $120.500, up $1.050,

FEB 19 Cattle closed at $125.300, up $1.125,

APR 20 Cattle closed at $125.700, up $0.700,

JAN 19 Feeder Cattle closed at $141.375, up $0.500

MAR 19 Feeder Cattle closed at $141.825, up $0.400

APR 19 Feeder Cattle closed at $143.825, up $0.425

---provided by Brugler Marketing & Management

Market Commentary provided by:

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