Live cattle futures saw buying out of the Cattle on Feed report from Friday to close with contracts 7 cents to $1.30 higher. Cash trade was quiet on Monday as feedlots were compiling showlists. Last week awas $228 in the North, with a few southern sales at $230. Feeder cattle futures were 42 cents to $1.57 higher. The CME Feeder Cattle Index was up $3.46 on October 23 to $348.55. The Monday OKC feeder cattle auction showed sales on 5,800 head, with action noted, $5-15 higher for steers and lighter weight steers up $20-30.
Monday’s Crop Progress report showed the US pasture rating at 23% gd/ex, steady on the week. The Brugler500 index was up 2 points at 265.
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Friday’s NASS Cattle on Feed report showed September placements 12.07% from a year ago at 1.777 million head. That was well below estimates and a record low for the month. Marketings were down 6.62% at 1.52 million head. October 1 on feed inventory was 11.372 million, down 0.4% yr/yr and compared to estimate of up 0.3%.
Wholesale Boxed Beef prices were higher in the Monday PM report, with the Chc/Sel at $11.88. Choice boxes were up $3.65 to $369.44, with Select back up $4.87 to $357.56. USDA estimated Federally inspected cattle slaughter for Monday at 106,000 head. That was up 1,000 head from the Monday prior and 2,117 head above the same week last year.
Oct 26 Live Cattle closed at $229.975, up $0.100,
Dec 26 Live Cattle closed at $231.200, up $0.075,
Feb 27 Live Cattle closed at $234.350, up $1.000,
Oct 26 Feeder Cattle closed at $349.900, up $1.575,
Nov 26 Feeder Cattle closed at $348.550, up $0.425,
Jan 27 Feeder Cattle closed at $346.000, up $0.650,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.