Cattle Extending Higher on Tuesday

Live cattle futures are showing $1.82 to $1.95 higher in most nearbys on Tuesday. Cash trade has yet to be reported this week, following the northern dressed sales at $350-355 and $222-227 live last week and Southern sales at $228. Feeder cattle futures are up $1.05 to $2.75 across the front months on Tuesday. The CME Feeder Cattle Index was back down 9 cents on October 16 to $343.54. Monday’s OKC feeder cattle auction showed 4,538 head sold, down over 1,700 head for the same week last year. Sales were $4-6 higher on heavy weight steers and steady to $4 lower on lighter weight steers. Heifers were steady to $3 higher. Calves were up $10-15.

Monday’s Crop Progress report showed the US pasture rating at 23% gd/ex, up 1% on the week. The Brugler500 index was up 6 points at 256.

Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel at $12.46. Choice boxes were up $2.56 to $374.14, with Select $1.77 higher to $361.68. USDA estimated Federally inspected cattle slaughter for Monday at 105,000 head. That was 1,000 head below the week prior and 14,726 head below the same week last year. 

Oct 26 Live Cattle  are at $229.400, up $1.900,

Dec 26 Live Cattle  are at $229.850, up $1.825,

Feb 27 Live Cattle  are at $232.850, up $1.925,

Oct 26 Feeder Cattle  are at $345.475, up $1.050

Nov 26 Feeder Cattle  are at $346.250, up $2.325

Jan 27 Feeder Cattle  are at $342.675, up $2.750