Cattle Posting Strong Gains at Midday

Live cattle futures are up 90 cents to $2.45 on Wednesday. Feeder cattle futures are $2.075 to $3.275 higher in the front months. The CME Feeder Cattle Index was 33 cents lower on September 9 at $137.44. Wholesale boxed beef prices were lower on Wednesday morning, tightening the Chc/Sel spread to $22.75. Choice boxes were down a sharp $3.43 at $221.95, with Select boxes $1.78 lower @ $199.20. The latter are down more than 5% since the Labor Day holiday. USDA estimated week to date FI cattle slaughter @ 231,000. That is down 8,000 head from the same week a year ago. Wednesday’s FCE auction showed 318 of the 636 head offered were bid at $99, with feedlots passing on both bids.

OCT 19 Cattle are at $98.600, up $2.450,

DEC 19 Cattle are at $103.675, up $2.450,

FEB 20 Cattle are at $109.900, up $1.475,

SEP 19 Feeder Cattle are at $135.975, up $2.075

OCT 19 Feeder Cattle are at $134.325, up $3.275

NOV 19 Feeder Cattle are at $133.675, up $2.975

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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