Cattle Mixed on Thursday

Live cattle futures are mixed at midday, with nearby Oct down a quarter and other front months 42.5 to 70 cents higher. Feeder cattle futures are mixed, with Sep up 62.5 cents. The CME Feeder Cattle Index was 20 cents lower on September 10 at $137.17. Wholesale boxed beef prices were mixed on Thursday morning, tightening the Chc/Sel spread to $21.22. Choice boxes were down a nickel at $219.84, with Select boxes $2.22 lower @ $198.62. The latter are down more than 5% since the Labor Day holiday. USDA estimated week to date FI cattle slaughter @ 348,000. That is down 11,000 head from the same week a year ago. A few bids of $97 live in KS and $157 dressed in NE have been reported this morning. USDA showed total 2019 beef production down 90 million lbs to 26.953 billion, as 2020 production was seen up 105 million lbs to 27.67 billion. Weekly Export Sales of 18,012 MT were tallied for beef in the week of 9/6, with shipments at 14,595 MT.

OCT 19 Cattle are at $98.250, down $0.250,

DEC 19 Cattle are at $104.325, up $0.700,

FEB 20 Cattle are at $110.600, up $0.425,

SEP 19 Feeder Cattle are at $136.700, up $0.625

OCT 19 Feeder Cattle are at $134.125, up $0.100

NOV 19 Feeder Cattle are at $133.500, down $0.050

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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