Feeder Cattle Futures PricesFri, Oct 2nd, 2015
Latest Brugler Feeder Cattle Report
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Live cattle futures lost $10.62 in the October contract this week, an 8.63% drop even after taking back $1.65 during Friday trade. October feeders were up $2.42 on Friday, but lost more than $5, or about 2.84% from a week earlier. Official livestock slaughter data totaled 578,081 head during the week ending 9/19, the largest amount reported for a single week since the week ending 1/24. This was of course the week following the shortened Labor Day week. The CME Feeder Cattle Index for Oct. 1 was down $1.04 to $187.89. Cash cattle trade reported live sales between $113 and $120 on Thursday. A few dressed sales took place at $190. The USDA reported wholesale beef prices were lower again today. Choice boxes were down $1.78 lower to $205.77, and select boxes averaged $1.85 lower than Thursday at $201.36. CFTC says that as of Tuesday afternoon, managed money(MM) accounts had shaved another 182 contracts off of their net long position from a week earlier.
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