Thursday Cattle Making a Rebound

Live cattle futures are 15 to 27 cents higher for Thursday’s midday. Nearby feeder cattle futures are seeing gains of $1.32 to $1.50 for Jan and Mar, while Nov contracts remain unchanged at $146.80. The USDA’s weekly export sales report showed beef shipments’ of 15,833 MT. Japan and Taiwan were the leading destinations each with a 25.9% share. The accumulated exports for Beef are 672,502 MT, which is down 6.61%. The net new export sales were 10,127 MT for the week. The 11/05 CME Feeder Cattle index was up 2 cents to $146.26. Wholesale boxed beef prices are continuing to rise. Choice boxes are up 51 cents at Thursday’s midday, and select boxes are higher by $1.45. The USDA has indicated a few early $181 dressed purchases for the WCB. The USDA estimated cattle slaughter is ahead of last week’s pace, with a running weekly total of 352,000 head through Wednesday.

Dec 19 Cattle are at $119.175, up $0.175,

Feb 20 Cattle are at $124.850, up $0.150,

Apr 20 Cattle are at $125.825, up $0.275,

Nov 19 Feeder Cattle are at $146.800, unch,

Jan 20 Feeder Cattle are at $145.750, up $1.325

Mar 20 Feeder Cattle are at $145.475, up $1.500

--provided by Brugler Marketing & Management

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