Cattle Market Commentary

Live cattle futures saw 10 to 80 cent losses in most contracts on Wednesday, with nearby December up 67.5 cents. Feeder cattle futures were steady to $1.30 lower on the day. The CME feeder cattle index was down 44 cents on November 6 at $152.88. Wholesale boxed beef prices were lower on Wednesday afternoon. Choice boxes were down 54 cents @ $218.22, with Select $2.89 lower at $201.77. USDA estimated FI cattle slaughter at 119,000 head on Wednesday, with the WTD total at 357,000 head. That is 5,000 above the previous week and the same day last year. Wednesday’s FCE online auction saw no sales on the 310 head offered. Cash cattle trade has still to develop, with packer bids starting at $113 in the south and $180 in the north. Asking prices from producers appear to be $118 in the south and $182+ in the carcass based area.

--provided by Brugler Marketing & Management




Market Commentary provided by:

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