Live Cattle Higher, Feeders Weaker on Pressure from Corn

Live cattle futures settled $0.72 to 77 1/2 cents higher on Friday. Feeder cattle futures were mixed, with Oct down 20 cents and Nov 12 1/2 cents higher. Double digit gains in corn suppressed the Feeder market. The CME Feeder Cattle index was 20 cents higher on Oct 9 to $144.65. Wholesale boxed beef prices increased to go into the weekend, with the Chc/Sel spread tightening to $26.98. Choice boxes were up $0.03 to $215.66, with Select boxes $2.02 higher to $188.68. USDA estimated FI cattle slaughter for the week ending the 10/12 is 645,000 head, 2,000 head less than last year. Nebraska saw some moderate cash sales before the weekend with dressed going for $172.00 and reports of some live sales ranging from $109 - $110.Spec Traders were seen at a net long 12,012 as of Tuesday, according to the Commitment of Traders report from Friday.

OCT 19 Cattle are at $109.450, up $0.725,

DEC 19 Cattle are at $112.150, up $0.725,

FEB 20 Cattle are at $118.050, up $0.775,

OCT 19 Feeder Cattle are at $144.100, down $0.200

NOV 19 Feeder Cattle are at $144.250, up $0.125

JAN 19 Feeder Cattle are at $140.475, up $0.050

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
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E-mail: alanb@bruglermktg.com
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