Live cattle futures are taking back losses from Monday with gains of $1.20-$1.625 on Turnaround Tuesday. Feeder cattle futures are also showing gains, with nearby Jan $2.075 higher. The CME feeder cattle index on November 17 was down 54 cents to $156.91. Wholesale beef prices were higher on Tuesday morning. Choice was up $1.63 at $207.81, with select boxes 73 cents higher at $188.78. USDA indicated FI cattle slaughter at 120,000 head on Monday, 3,000 larger than a week ago and 3,000 above the same week in 2016. There has been cash trade of $118 reported so far today. Wednesday’s FCE auction will show 955 head for sale. With trade already developing, the online auction will be fairly irrelevant for price discovery.

Dec 17 Cattle are at $118.300, up $1.200,

Feb 18 Cattle are at $124.650, up $1.625,

Apr 18 Cattle are at $125.225, up $1.525,

Jan 18 Feeder Cattle are at $151.625, up $2.075

Mar 18 Feeder Cattle are at $149.800, up $1.750

Apr 18 Feeder Cattle are at $149.750, up $1.900

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353

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