Cattle

Live cattle futures posted losses of $1.65 to $1.90 in the nearby contracts on Friday. Feeder cattle futures were steady to 67.5 cents lower, trying to narrow the feeder/fat spreads. The CME feeder cattle index was 39 cents higher at $159.37 on November 9. Wholesale beef prices were mixed on Friday afternoon. Choice was up $1.11 at $213.85, with select boxes $3.79 lower at $194.51. That widened the Ch/Select spread to $19.34. Estimated weekly FI cattle slaughter through Saturday was 623,000 head, 19,000 fewer than the previous week but 8,000 head above the same week in 2016. Total 2017 commitments for US beef exports are still 10.9% above last year, helping to bleed off part of the extra production.




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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