Cattle Lower on Tuesday

Live cattle futures are down so far this Tuesday, posting midday losses of 35 to 77 cents. Feeder cattle futures are mixed with the soon to expire Nov contract showing a 2 cent gain., Jan and Mar contracts are lower by 60 to 80 cents. The 11/15 CME Feeder Cattle index was lower by 43 cents to 146.69. Wholesale boxed beef prices were higher this morning, and widened the Chc/Sel spread to $24.25. Choice boxes were up by $0.83, to $239.95. Select boxes also rose, up by 11 cents to $215.70. The Federal Cattle Exchange online auction tomorrow will feature 1398 head, 63% NE, 28% KS. The Trade deal with Japan has been Signed by the lower house of the Japanese parliament, the upper house is expected to also sign off on the deal to ratify it into law by December 9th. The trade deal with the country is set to reduce tariffs on beef, pork,wheat and wine to levels similar to those given TPP signatories.

DEC 19 Cattle are at $118.300, down $0.400,

FEB 19 Cattle are at $124.750, down $0.350,

APR 20 Cattle are at $125.625, down $0.775,

NOV 19 Feeder Cattle are at $146.400, up $0.025

JAN 19 Feeder Cattle are at $143.675, down $0.800

MAR 19 Feeder Cattle are at $144.125, down $0.600

--provided by Brugler Marketing & Management

Market Commentary provided by:

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