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Cattle futures closed near the highs of the day, up $.45 to $1.57. Feeder futures were up $.50 to $1.25 as they followed the live cattle and the cheaper feed ingredients. The CME Feeder index was down 34 cents at $240.46, still a $1.01 premium to the October futures. Cash cattle trade has been quiet, without enough sales reported for a market trend. Asking prices are $168-170, with $260 or higher floating around in the north. Wholesale prices were higher this afternoon. Choice boxed beef prices were $1.16 higher, while Select boxes were on average 14 cents higher per hundred pounds.The USDA Cold Storage report was slightly bearish, showing an 8% jump in beef in storage during September. Stocks were still 16% smaller than year ago, so we’re not out of the woods yet.
Oct 14 Cattle closed at $168.050, up $1.500,
Dec 14 Cattle closed at $168.100, up $1.050,
Feb 15 Cattle closed at $167.625, up $1.575,
Oct 14 Feeder Cattle closed at $239.450, up $0.500
Nov 14 Feeder Cattle closed at $235.175, up $1.250
Jan 15 Feeder Cattle closed at $229.275, up $1.025