Cattle Post Gains on Friday

Friday fat cattle trading left the board 2 to 32 cents higher for the front month contracts. October contracts expired at $105.97. Feeder cattle futures closed the session with triple digit gains. Jan feeders were the strongest with a $2.77 gain. The CME Feeder Cattle Index for 10/29 was $136.76, back higher by $2.42. Cash cattle sales were pretty light this week. On Friday sales in NE went for $106, but the bulk of Northern trade was near $103 for the week. In the South the bulk of the cash sales that did take place was $106. The CFTC Commitment of Traders report showed cattle specs were 14,811 contracts net long on 10/27. The 20k contract weaker net long came by way of long liquidation and new selling. In feeders, managed money was 8,895 contracts net short as of Tuesday. USDA’s wholesale boxed beef prices were higher on Friday widening the premium back to $16.86 cwt. Choice was up $0.78 to $208.10 cwt. but and Select boxes were a penny higher. USDA’s estimate for the week’s cattle slaughter through Saturday is 638,000 head. That is down 5,000 head wk/wk and 21,000 head below the same week last year.

Dec 20 Cattle closed at $108.300, up $0.325,

Feb 21 Cattle closed at $110.400, up $0.025,

Apr 21 Cattle closed at $113.650, up $0.125,

Nov 20 Feeder Cattle closed at $137.400, up $1.675

Jan 21 Feeder Cattle closed at $134.125, up $2.775

Mar 21 Feeder Cattle closed at $133.525, up $2.550

--- provided by Brugler Marketing & Management

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