Live cattle futures are trading with contracts down 60 to 90 cents so far on the day. There were another 5 deliveries against October on Friday to the West Point, NE location. Last week there were Southern cash sales of $188 and Northern sales of $188 live and $296 in the beef. 

Feeder cattle futures are trading with 50 cent to $1.22 losses at midday. The CME Feeder Cattle Index was up 55 cents at $250.80 on October 17. Monday’s OKC feeder cattle auction is estimated to have 8,600 head for sale, which is well above last week and the same week last year.

Weekly Commitment of Traders data showed managed money continuing to add to their net long position as of October 15, by 8,703 contracts. As of that Tuesday, they were net long 85,729 contracts. In feeder cattle, they added 1,136 contracts to their net long at 8,840 contracts.

USDA wholesale Boxed Beef prices were higher again in the Monday morning report. Choice boxes were up $1.42 to $322.07/cwt, with Select $1.67 higher @ $295.87. The Chc/Select spread widened to $26.20. USDA estimated last week’s federally inspected cattle slaughter at 608,000 head through Saturday. That is 22,000 head above the previous week but down 29,911 head from the same week last year.

Oct 24 Live Cattle  are at $186.750, down $0.875,

Dec 24 Live Cattle  are at $186.650, down $0.675,

Feb 25 Live Cattle  are at $187.525, down $0.600,

Oct 24 Feeder Cattle  are at $247.800, down $0.525

Nov 24 Feeder Cattle  are at $246.675, down $0.925

Jan 25 Feeder Cattle  are at $244.275, down $1.225