Feeder Cattle (P) Futures PricesTue, Oct 6th, 2015
Latest Brugler Feeder Cattle (P) Report
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Live cattle futures closed Tuesday afternoon with the front two contracts limit up with Feb16 not far behind. Feeders finished Tuesday trade mostly limit up as well. The CME Feeder Cattle Index for 10/5 was off 47 cents to $182.29. Cash cattle trade had light demand again on Tuesday. Prices averaged $116.72 live last week, and $187.58 dressed. The basis is making delivery vs. October futures attractive after this rally. There were 28 lots put out overnight, including 15 re-tenders in Worthington and 13 new ones at Dodge City. The USDA reported mixed wholesale beef prices in its Tuesday afternoon report. Choice boxes were 20 cents higher to $204.17, but select boxes were off 18 cents to $198.87, continuing their fall under $200. Wide retail margins for beef continue to encourage substitution of pork and poultry. Estimated WTD FI slaughter was 220,000 head, down 2,000 head from a week ago, and 4% smaller than the same week last year.
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