Live cattle futures have risen from $1.22 to $1.40 so far Friday. Some cash selling in the North this week has been reported at $215-220, with most at the high end of that range, and in the South at $224. There were no sales at 1,668 head Friday morning with bids at $218-220 in the Fed Cattle Exchange online auction. Feeder cattle futures were up 27 cents to $1.60 at noon time. On November 19, the CME Feeder Cattle Index rose $1.14 to $341.16.
Late Thursday night, President Trump removed the 40% tariff on Brazilian beef imports (the active tariff rate is now 26.4% with quotas), retroactive to November 13.
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A Reuters survey of analysts is expecting October placements to be down 7.9% from last year, while marketing sees a 7.6% decline. The feed seen on November 1 is down 2.2% from last year. The report will be released this afternoon.
The USDA reported a rise in wholesale boxed beef prices in its Friday morning report, with the Chc/Sel spread narrowing to $13.19. Choice Boxes were up 33 cents at $371.61, while Select was up $4.24 at $358.42. Cattle slaughter under federal inspection by the USDA on Thursday was estimated at 120,000 cattle, compared to a weekly total of 477,000 cattle. This was up 6,000 head last week but down 22,435 head on the same week last year.
25 December Live Cattle are at $216.025, up $1.300,
26th February Live Cattle are at $216.625, above $1.225,
26 April Live Cattle are up $1.400 at $216.975,
26 January fodder cattle are up $0.275 at $316.650
26 March fodder cattle are up $1.275 at $309.825
April 26 feed cattle are up $1.575 at $308.125
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