Stay cattle futures are down the $7.25 restrict at noon, with close by October slipping $5.77. Money commerce has seen motion throughout the nation at $238-240 to this point this week. The Friday morning Fed Cattle Change on-line public sale confirmed gross sales on 433 of the 1,646 head provided with at $238-239. Feeder cattle futures are down the $9.25 restrict almost throughout the board, with October down $9.025. November is synthetically buying and selling (through choices) close to $348, or one other $4 decrease. The CME Feeder Cattle Index was again down $1.38 at $370.62 on October 22.
A report late on Thursday advised the Mexican ag ministry was headed to Washington subsequent week to debate reopening the border that has been closed to cattle imports resulting from New World Screwworm.
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A Reuters survey of analysts is searching for September placements to be down 8.8% from final 12 months. The month-to-month cattle on feed report would usually be out this afternoon, however the authorities shutdown will probably delay that. Marketings are anticipated to be down 4.1%, with October 1 on feed seen 2% under final 12 months.
USDA Wholesale Boxed Beef costs have been larger within the Friday AM report, narrowing the Chc/Sel unfold to $18.29. Selection containers have been up $2.76 to $375.90, whereas Choose was $2.87 larger at $357.61. USDA federally inspected cattle slaughter for Thursday was estimated at 119,000 head, with the weekly complete at 446,000 head. That’s 20,000 head under final week and 47,316 shy of the identical week final 12 months.
Oct 25 Stay Cattle are at $233.950, down $5.775,
Dec 25 Stay Cattle are at $233.925, down $7.250,
Feb 26 Stay Cattle are at $233.425, down $7.250,
Oct 25 Feeder Cattle are at $354.325, down $9.025
Nov 25 Feeder Cattle are at $352.200, down $9.250
Jan 26 Feeder Cattle are at $348.175, down $9.250
On the date of publication,
Austin Schroeder
didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions.
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