Cattle Market Pauses to Wait on Cash

Live cattle futures were mixed again Wednesday, with a 45 cent loss for nearby Dec contracts. Nearby feeder cattle futures were lower by $1.05 to $1.35. Beef exports to China were at an all time high for the month of September, shipping 3 million lbs for the month, still a drop in the bucket! The 11/04 CME Feeder Cattle index was down $0.21 to $146.24. Wholesale boxed beef prices were higher yesterday. Choice boxes posted a gain of 68 cents, and select boxes finished higher by $1.71. Yesterday feedlots passed on offers of $113-$114 and the FCE online auction had no completed trades. NE and KS cattle were listed at $117. There will be an additional auction tomorrow. The USDA estimated cattle slaughter is ahead of last week’s pace, with a running weekly total of 352,000 head through Wednesday.

--provided by Brugler Marketing & Management

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