Cattle Market Anticipates Higher Cash Trade

Live cattle futures were 17 to 32 cents higher after Thursday’s session. Nearby feeder cattle futures ended with $1.35 to $1.52 cent gains, save for Nov which lost 2 cents. 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 11/05 CME Feeder Cattle index was up 2 cents to $146.26. Wholesale boxed beef prices higher again. Choice boxes are up another $1.15 to $238.29, and select boxes gained $1.49 to close at $213.02. The USDA has indicated a few dressed purchases @ $181- $182 in Nebraska but otherwise cash trade has been slow to develop. The USDA estimated cattle slaughter WTD is 470,000 head. The weekly cattle slaughter under federal inspection for the week ending 10/26 saw 640,269 head (0.83% above the same week last year) at an average dressed weight of 826 lbs. The Report showed the highest weekly cow slaughter since week 20 of 2013, and we are on pace to have the highest since that year for the full year.

--provided by Brugler Marketing & Management

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