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Live cattle futures settled $1.575 lower in the October contract, but Dec16 was only down 50 cents. Feeders were also lower, posting losses from 5 to 95 cents with Sept expiring at $134.225. The CME Feeder cattle Index for 9/27 was $136.68. Average prices for choice beef were down 98 cents in the afternoon USDA report and select was $1.00 lower. Cash cattle trade this week has been moderate on light to moderate demand. Reported trade for all grades has a weighted average of $103.40 for live, and $161.10 for dressed. WTD estimated FI slaughter is still 1,000 head behind last week's pace, but running 7,000 head larger than the same period a year ago. USDA reported US beef export sales for the week ending 9/22 were 13,700 MT. This was 24% above the 4-week average, with South Korea the largest buyer.
Oct 16 Cattle settled at $101.900, down $1.575,
Dec 16 Cattle settled at $103.125, down $0.500,
Feb 17 Cattle settled at $103.425, down $0.675,
Sep 16 Feeder Cattle settled at $134.225, down $0.950
Oct 16 Feeder Cattle settled at $127.500, down $0.525
Nov 16 Feeder Cattle settled at $123.925, down $0.725