Cattle Market Commentary

Live cattle futures ended Tuesday with mixed trade, as nearby Oct was down 72.5 cents and Feb was up 12.5 cents. Feeder cattle futures were mostly lower, with front month Oct down $1.075. The CME feeder cattle index was down 90 cents on October 15 at $155.36. Wholesale boxed beef prices were mixed on Tuesday afternoon. Choice boxes were down 19 cents @ $204.61, with Select up 66 cents to $192.55. FI cattle slaughter through Tuesday was estimated at 234,000 head by USDA. That is 2,000 above the previous week and 5,000 head larger than last year. The FCE auction this morning will have 1,103 head for sale. The sale has been plagued by small show lists, so this is an improvement. Ahead of Friday’s Cattle on Feed report, analysts are expecting to see September placements just 0.1% larger than last year at 2.152 million head. Marketings in that month are seen down 3% from year ago at around 1.73 million head.

Market Commentary provided by:

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