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Live cattle futures were sharply lower with the front two contracts limit down on the day. October futures lost nearly 8.5% on the week, and finished below the $99 mark. Feeders were also sharply lower with most contracts posting daily losses from $3.80 to $4.35. October futures lost $9.225 since last Friday and were down The CME Feeder cattle Index for 9/29 was $133.95. Average prices for wholesale beef were sharply lower in the Friday afternoon report. Choice was down $2.42 and select was $1.07 lower. Cash cattle trade on Friday was relatively thin, but reportedly took place between $97 and $100, with a weighted average of $99.89. Dressed sales on Friday were very thin, but averaged $158.95. Trade this week before Friday ranged from $100 to $103 or live, and $159-$161 for dressed steers. Weekly estimated FI slaughter through Saturday at 611,000 head about 19,000 head larger than last week, and 42,000 head larger than a year ago. YTD slaughter is 4.5% larger than last year at this time.
Oct 16 Cattle settled at $98.900, down $3.000,
Dec 16 Cattle settled at $100.125, down $3.000,
Feb 17 Cattle settled at $100.600, down $2.825,
Oct 16 Feeder Cattle settled at $123.150, down $4.350
Nov 16 Feeder Cattle settled at $119.650, down $4.275
Jan 17 Feeder Cattle settled at $116.825, down $3.800