Cattle Ticking Higher Ahead of USDA Report

Live cattle futures are trading with contracts steady to 27 cents higher on Friday. Cash trade has yet to be reported this week. The Friday morning Fed Cattle Exchange online auction showed no sales on the 1,884 head offered, with a few bids of $225-226. Feeder cattle futures are up $1.50 to $2.50 at midday. The CME Feeder Cattle Index was up 69 cents on October 21 to $343.57.

The monthly NASS Cattle on Feed report will be released on Friday, with traders surveyed by Reuters looking for September placements to be down 7.4% from a year ago and marketings down 7%. October 1 on feed is expected to be up 0.3% from last year.

Wholesale Boxed Beef prices were lower in the Friday AM report, with the Chc/Sel at $17.69. Choice boxes were down $1.83 to $367.64, with Select back down 46 cents to $349.95. USDA estimated Federally inspected cattle slaughter for Thursday at 103,000 head, as the week to date total is 430,000 head. That is not even with the week prior and 17,054 head below the same week last year. 

Oct 26 Live Cattle  are at $230.000, up $0.250,

Dec 26 Live Cattle  are at $231.400, up $0.275,

Feb 27 Live Cattle  are at $233.525, up $0.075,

Oct 26 Feeder Cattle  are at $348.600, up $2.500

Nov 26 Feeder Cattle  are at $348.400, up $1.475

Jan 27 Feeder Cattle  are at $345.725, up $1.725

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.