Live Cattle Post Gains while Feeders Fell

Live cattle futures came back down from midday triple digit gains, but still finished in the black. Feeder cattle futures however turned southward after midday gains and ended with 27 to 32 cent losses in the front months. The 12/04 CME Feeder Cattle index was $144.53 after dropping by 66 cents. Weekly beef export sales from the USDA were shown at 12,181 MT across both years, which were 54.33% lower than the week prior, but only 4.43% less than the same week last year. Wholesale boxed beef prices were again lower. Choice boxes showed a $1.35 drop, and select boxes were $2.19 lower. Monthly Census data converted to pounds put October beef shipments at 248.6 million lbs. Cash sales of $119 were reported in KS and TX today. USDA estimated the week to date FI cattle slaughter at 477,000 head through this evening, compared to the same week last year which was at 482,000.

DEC 19 Cattle closed at $119.925, up $0.475,

FEB 19 Cattle closed at $124.600, up $0.425,

APR 20 Cattle closed at $125.225, up $0.225,

JAN 19 Feeder Cattle closed at $140.550, down $0.325

MAR 19 Feeder Cattle closed at $141.150, down $0.275

APR 19 Feeder Cattle closed at $143.125, down $0.275

---provided by Brugler Marketing & Management

Market Commentary provided by:

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