Cattle
Live cattle futures saw losses of 62.5 cents to $1.425 on Thursday, with feeder cattle futures 37.5 cents to $2.425 lower. The CME feeder cattle index was 8 cents lower at $155.14 on October 11.Wholesale beef prices were higher in the Thursday afternoon report. Choice was up $1.12 at $197.44, while select boxes were 69 cents higher at $189.45. Week to date FI cattle slaughter was estimated at 469,000 head through Thursday, about 10,000 larger than the previous week and 15,000 head above the same week last year. There were cash sales of $111 reported on Thursday, with a few on a dressed basis at $175. The USDA lowered its fourth quarter beef production for 2017 10 million pounds to 7.115 billion pounds. Projected first and second quarter production for 2018 was reduced 35 million pounds each.



Market Commentary provided by:

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