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Cattle Market Commentary

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Live cattle futures ended Wednesday with most contracts 45 to 65 cents lower, as nearby Oct was down $1. Feeder cattle futures were down $1.05 to $1.70 on the day. The CME feeder cattle index was down 7 cents on October 9 at $158.38. Wholesale boxed beef values were lower on Wednesday afternoon. Choice boxes were down 74 cents to $202.11, while Select boxes were 95 cents lower at $191.77. USDA estimated weekly FI cattle slaughter at 348,000 head through Wednesday. That was down 10,000 head from last week and 4,000 from the same week in 2017. The weekly FCE online auction saw 0 sales on the 1,246 head offered, with asks @ $111-113 and no bids. A few cash sales were reported in IA and NE at $174, down about $1 from last week.

--provided by Brugler Marketing & Management

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