Cattle Lower on Higher Feed

Live cattle futures dropped a little more this morning, the futures are lower by 15 to 35 cents at midday. Feeder cattle futures see a midday bounce, they are up by as much as 72 cents in the front months. The 11/29 CME Feeder Cattle index was up 35 cents at $144.97. Official Brazilian exports show beef shipments of 155,600 MT for Nov, which is down from October shipments, but they exported 19.23% more than November a year ago. Morning boxed beef prices were mixed to tighten the Chc/Sel spread to $17.38. Choice boxes were $1.33 lower, and select boxes were up by $0.92. Tomorrow’s FCE online cattle auction will host 1,189 head, 827 from NE 230 head from KS and TX offering 142 head. Cash cattle activity has been light recently, the USDA has reported some 80% choice dressed sales of $187.00, and live from sales $116 - $119. USDA estimated the FI cattle slaughter to start the week with 117,000 head.

DEC 19 Cattle closed at $120.600, down $0.150,

FEB 19 Cattle closed at $125.450, down $0.350,

APR 20 Cattle closed at $126.050, down $0.150,

JAN 19 Feeder Cattle closed at $142.875, up $0.725

MAR 19 Feeder Cattle closed at $143.225, up $0.200

APR 19 Feeder Cattle closed at $145.225, up $0.250

---provided by Brugler Marketing & Management

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