Live cattle futures are currently 92.5 cents to $1.20 lower at midday. Feeder cattle futures are down 55 to 77.5 cents. The CME feeder cattle index was up 75 cents from the previous day at $149.01 on September 8. Wholesale beef prices were mixed in the Tuesday morning report, with the Ch/Se spread narrowing to just 33 cents. Choice was down 32 cents at $191.24, as select boxes were 53 cents higher at $190.91. FI cattle slaughter was estimated at 116,000 head on Monday, which is 5,000 head larger than the same week in 2016. Wednesday’s FCE online auction will show 1,063 head for sale, with a majority from KS. In this morning’s USDA supply and demand table, beef production for 2017 was lowered 140 million pounds to 26.559 billion pounds.

Oct 17 Cattle are at $106.275, down $0.925,

Dec 17 Cattle are at $111.675, down $1.200,

Feb 18 Cattle are at $115.400, down $1.150,

Sep 17 Feeder Cattle are at $147.675, down $0.775

Oct 17 Feeder Cattle are at $148.700, down $0.650

Nov 17 Feeder Cattle are at $148.750, down $0.550

Market Commentary provided by:

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