Cattle Market Commentary

Live cattle futures are steady to 50 cents higher in the front months and lower in the back months. Feeder cattle futures are also 50 to 60 cents higher in the nearby contracts, with deferred contracts lower. The CME feeder cattle index was down 7 cents on October 9 at $158.38. Wholesale boxed beef values were mixed on Thursday morning. Choice boxes were up 86 cents to $202.97, while Select boxes were 63 cents lower at $191.14. USDA estimated weekly FI cattle slaughter at 348,000 head through Wednesday. That was down 10,000 head from last week and 4,000 from the same week in 2017. A few cash cattle sales have been shown for on Thursday, mostly around $111. US beef production for 2018 was trimmed by 150 million pounds to 26.944 billion pounds in the WASDE report. A 190 million lb reduction to 4th quarter production was offset a 40 million lb jump in the 3rd quarter.

OCT 18 Cattle are at $112.575, up $0.500,

DEC 18 Cattle are at $116.750, up $0.275,

FEB 19 Cattle are at $121.200, down $0.250,

OCT 18 Feeder Cattle are at $156.500, up $0.600

NOV 18 Feeder Cattle are at $156.675, up $0.500

JAN 19 Feeder Cattle are at $151.475, down $0.650

--provided by Brugler Marketing & Management (402) 289-2330

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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