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Cattle Down ahead of Monthly Report

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Position adjusting ahead of USDA’s CoF report has the board flashing some triple digit losses. Dec is down $1.10 at midday, with other front months 42 to 97 cents weaker. Feeder cattle futures are $0.37 to $0.97 lower. The 11/17 CME Feeder Cattle Index was down 17 cents to $137.38. USDA reported Thursday cash trade was light and sporadic using the full $106-$110 range. Sales in the beef were mostly $172, with some $170 and $171 reported. Wholesale boxed beef prices were mixed this morning, widening the Chc/Sel spread to $24.73 cwt. Choice boxes were up another $0.89 and Select was down 12 cents. USDA’s monthly CoF report is set for release at 2pm CST. USDA estimated the week’s FI cattle slaughter through Thursday at 478,000 head. That is 6,000 head more than last week and outpacing the same week LY by 5,000 head. 

Dec 20 Cattle are at $107.150, down $1.100,
Feb 21 Cattle are at $109.550, down $0.975,
Apr 21 Cattle are at $113.550, down $0.650,
Jan 21 Feeder Cattle are at $134.575, down $0.975
Mar 21 Feeder Cattle are at $134.325, down $0.625
Apr 21 Feeder Cattle are at $136.200, down $0.375


--- provided by Brugler Marketing & Management 

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