Live Cattle Higher, Feeders Weaker on Pressure from Corn

Live cattle futures settled $0.72 to 77 1/2 cents higher on Friday. Feeder cattle futures were mixed, with Oct down 20 cents and Nov 12 1/2 cents higher. Double digit gains in corn suppressed the Feeder market. The CME Feeder Cattle index was 20 cents higher on Oct 9 to $144.65. Wholesale boxed beef prices increased to go into the weekend, with the Chc/Sel spread tightening to $26.98. Choice boxes were up $0.03 to $215.66, with Select boxes $2.02 higher to $188.68. USDA estimated FI cattle slaughter for the week ending the 10/12 is 645,000 head, 2,000 head less than last year. Nebraska saw some moderate cash sales before the weekend with dressed going for $172.00 and reports of some live sales ranging from $109 - $110.Spec Traders were seen at a net long 12,012 as of Tuesday, according to the Commitment of Traders report from Friday.

OCT 19 Cattle are at $109.450, up $0.725,

DEC 19 Cattle are at $112.150, up $0.725,

FEB 20 Cattle are at $118.050, up $0.775,

OCT 19 Feeder Cattle are at $144.100, down $0.200

NOV 19 Feeder Cattle are at $144.250, up $0.125

JAN 19 Feeder Cattle are at $140.475, up $0.050

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.