Cattle Futures Offset Part of Wednesday Decline

Live cattle futures were up by as much as 97 cents Thursday after posting losses on Wednesday. Feeder cattle futures rallied $0.75 to $1.22. The 11/13 CME Feeder Cattle index was lower by $0.05 to $147.39. Wholesale beef prices were lower. Choice boxes were $1.28 lower at $241.06, while select boxes had fallen by $1.69 to $215.84 in the PM report. The Fed Cattle Exchange extra online auction for today has 1,264 head listed. Light cash trade of $115 in the South and $116.50 in NE has been reported for the week thus far. Nebraska dressed trades have gained $1.00 over last week, with $182.00 sales reported today. JBS stated that beef consumption in China is “impressive”, citing the inflation caused by the pork shortage. The USDA estimated FI cattle slaughter weekly total was up to 467,000 as of Thursday. That is 6,000 head below the same pace a year ago and 3,000 head below last Thursday’s weekly total.

--provided by Brugler Marketing & Management

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