Cattle Bounce from 9-Year Low

Live cattle futures are up $1.275 to $1.525 in the front months. They hit the lowest price on the front month continuation chart since 2010 on Monday. Feeder cattle futures are 87.5 cents to $1.60 higher in the nearby contracts. The CME Feeder Cattle Index was 59 cents lower on September 6 at $137.77. Wholesale boxed beef prices were lower on Tuesday morning. Choice boxes were down 63 cents at $226.32, with Select boxes 28 cents lower @ $201.67. USDA 5-area cash cattle prices last week were the lowest since 2016. USDA estimated Monday’s FI cattle slaughter @ 115,000. That is down 4,000 head from the same week a year ago. A total of 636 head are listed for sale in this week’s FCE online auction.

OCT 19 Cattle are at $95.475, up $1.275,

DEC 19 Cattle are at $100.575, up $1.400,

FEB 19 Cattle are at $107.600, up $1.525,

SEP 19 Feeder Cattle are at $133.700, up $0.875

OCT 19 Feeder Cattle are at $131.125, up $1.300

NOV 19 Feeder Cattle are at $130.400, up $1.600

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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