Cattle Market Commentary

Live cattle futures saw 85 cent to $2.175 gains in most contracts on Wednesday. Feeder cattle futures were up $1.325 to $2.575. The CME feeder cattle index was up 54 cents on September 11 at $152.63. Wholesale boxed beef values were lower on Wednesday afternoon. Choice boxes were down $1.28 to $204.79, while Select boxes were $1.04 lower at $197.27. USDA estimated weekly FI cattle slaughter at 357,000 head through Wednesday, which is 7,000 head above the same week in 2017. The FCE online auction saw no sales on the 444 head offered, with feedlots passing on bids of $108-108.25. The WASDE report had US 2018 beef production UNCH at 27.094 billion pounds. Third quarter 2018 production was trimmed by 65 million pounds, with 4Q18 production up that same amount.

Market Commentary provided by:

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