Cattle Rallying to Close Out the Week

Live cattle futures are up $2.62 to $2.97 across the front months on Friday. Cash trade has yet to get kicked off this week, with a few $218 sales reported in the north reported by the USDA. The Friday morning Fed Cattle Exchange online auction showed no sales on the 2,612 head offered, with bids of $222-226. Feeder cattle futures are rallying $5.47 to $7.70 across most contracts at midday. Near limit losses in corn are supportive. The CME Feeder Cattle Index was $1.14 lower on October 7 to $336.73.

Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel at $18.68. Choice boxes were down 15 cents to $374.70, with Select $4.29 higher to $356.02. USDA estimated Federally inspected cattle slaughter for Thursday at 101,000 head, taking the weekly total at 424,000 head. That was up 14,000 from the week prior but 25,661 head below the same week last year. 

Oct 26 Live Cattle  are at $224.500, up $2.625,

Dec 26 Live Cattle  are at $226.525, up $2.975,

Feb 27 Live Cattle  are at $228.775, up $2.925,

Oct 26 Feeder Cattle  are at $343.500, up $5.475

Nov 26 Feeder Cattle  are at $341.775, up $6.900

Jan 27 Feeder Cattle  are at $336.125, up $7.700