Live cattle futures finished Wednesday lower by triple digits, down by $1.37 to $1.65 in the front months. Feeder cattle futures rebounded slightly after touching limit losses, but still finish the day with major declines. The CME Feeder Cattle index gained $0.20 on 11/12 to $147.44. Afternoon boxed beef prices were higher, widening the Chc/Sel spread to 24.81. Choice boxes were up $1.84 to $242.34. Select boxes were up $1.30 at $217.53. Today’s FCE auction didn’t accrue any sales; there were offers of $115 in Texas and $115.50 in KS, which were both passed on. There will be an additional online auction Friday. Some cash sales of $115 were reported for KS and TX this afternoon. As of 11/13, the USDA estimated WTD cattle slaughter under federal inspection was 349,000 head, which is less than last week and the running total through the same Wednesday last year.
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Dec 19 Cattle closed at $118.100, down $1.650, |
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Feb 20 Cattle closed at $124.100, down $1.475, |
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Apr 20 Cattle closed at $125.675, down $1.375, |
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Nov 19 Feeder Cattle closed at $145.575, down $2.225 |
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Jan 20 Feeder Cattle closed at $142.825, down $4.300 |
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Mar 20 Feeder Cattle closed at $143.325, down $3.500 |
--provided by Brugler Marketing & Management
