Cattle Rebound in Afternoon to Close Mixed

Following midday losses, live cattle futures recovered to close the session mixed. October fats closed at $103.97 on the board. There were 1,764 contracts still open as of Friday. October contracts expire at the end of the week. Feeders ended the first trade day of the week with $0.92 to $1.22 gains. October feeders closed at $133.70 on the board with 1,379 contracts open as of Friday. They expire on Thursday. The CME Feeder Cattle Index dropped another $0.31 to $133.70 on 10/23. Monday cash trading was quiet save for very limited WCB deals at $103. The bulk sales last week were near $104 for the North and $106 in the South. Wholesale boxed beef prices were mixed in the PM report, and widened the Chc/Sel spread to $19.34. USDA reported Choice boxes at $207.83 cwt. and Select boxes at $188.49. That was a 34 cent bump and $2.91 drop respectively. USDA estimates the start to this week’s FI cattle slaughter at 118,000 head for Monday.

Dec 20 Cattle closed at $103.400, down $0.175,

Feb 21 Cattle closed at $106.400, down $0.225,

Apr 21 Cattle closed at $109.500, up $0.225,

Nov 20 Feeder Cattle closed at $130.575, up $0.925

Jan 21 Feeder Cattle closed at $126.775, up $1.225

Mar 21 Feeder Cattle closed at $126.450, up $0.925

--- provided by Brugler Marketing & Management




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