Cattle Market Commentary

Live cattle futures were steady to 77.5 cents higher in the front months, with back months lower. Feeder cattle futures were up in the nearby contracts, with most deferred contracts in the red. The CME feeder cattle index was down a penny on October 10 at $158.37. Wholesale boxed beef values were higher on Thursday afternoon. Choice boxes were up 40 cents to $202.41, while Select boxes were 72 cents higher at $192.49. USDA estimated weekly FI cattle slaughter at 468,000 head through Thursday. That was down 10,000 head from last week and 3,000 from the same week in 2017. A few cash cattle sales were reported on Thursday, mostly around $111. US beef production for 2018 was trimmed by 150 million pounds to 26.944 billion pounds in the WASDE report. A 190 million lb reduction to 4th quarter production was offset a 40 million lb jump in the 3rd quarter. Production for 2019 was raised by 190 million lbs to 27.910 billion pounds.

OCT 18 Cattle closed at $112.850, up $0.775,

DEC 18 Cattle closed at $116.975, up $0.500,

FEB 19 Cattle closed at $121.500, up $0.050,

OCT 18 Feeder Cattle closed at $156.850, up $0.950

NOV 18 Feeder Cattle closed at $156.800, up $0.625

JAN 19 Feeder Cattle closed at $151.675, down $0.450

--provided by Brugler Marketing & Management (402) 289-2330

Market Commentary provided by:

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

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