Cattle Market Up, Feeders Helped by Cheap Corn
BRUG - Wed Dec 11, 4:37PM CST

Live cattle futures had posted gains of as much as 90 cents at the close. Dec futures were 72 cents higher. Feeder cattle futures gained triple digits on the day, with gains as much as $1.27 in the front months. The 12/10 CME Feeder Cattle index was at $143 even following a 41-cent drop. Wholesale boxed beef prices are again lower, abiding by a seasonal pattern of tightening the Choice/Select spread, which was at $14.93. Choice boxes were $2.63 lower this afternoon, while select boxes dropped by only $1.63. The online Fed Cattle Exchange saw no sales this morning, the packers passed on asks of $119 - $119.50. Cash sales for this week are back down from the $120 range of last week, with reports of $118 - $119 through the first half of the week. The USDA estimates week to date FI cattle slaughter at 365,000 head through Wednesday.

Dec 19 Cattle are at $120.600, up $0.725,

Feb 20 Cattle are at $125.400, up $0.825,

Apr 20 Cattle are at $125.950, up $0.900,

Jan 20 Feeder Cattle are at $142.925, up $1.275

Mar 20 Feeder Cattle are at $143.775, up $1.250

Apr 20 Feeder Cattle are at $145.600, up $1.125

---provided by Brugler Marketing & Management




Market Commentary provided by:

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