Live cattle futures are posting $3 to $3.50 losses so far at midday. Light cash trade has been reported this week in the North at $225-227, with $228 reported in the South. There were sales on 554 of the 1,428 head offered at $228 in the Thursday morning Fed Cattle Exchange online auction. Feeder cattle futures are up $1 in the November contract, with other contracts fown $5.60 to $6.20. The CME Feeder Cattle Index was down another $2.09 to $340.67 on November 11.
Export sales data for the week of September 25 was released this morning, with 15,221 MT of beef sold in that week.
USDA Wholesale Boxed Beef prices were weaker in the Thursday AM print, widening the Chc/Sel spread to $16.37. Choice boxes were down 28 cents to $374.17, while Select was $2.14 lower at $357.80. USDA federally inspected cattle slaughter for Wednesday was at 122,000 head, with the weekly total at 351,000. That is 7,000 head above last week and 8,547 head below the same week last year.
Dec 25 Live Cattle are at $221.800, down $3.475,
Feb 26 Live Cattle are at $221.675, down $3.300,
Apr 26 Live Cattle are at $221.050, down $3.450,
Nov 25 Feeder Cattle are at $340.025, up $1.000
Jan 26 Feeder Cattle are at $321.875, down $5.600
Mar 26 Feeder Cattle are at $314.950, down $6.075
