Stay cattle futures are up $1.22 to 1.40 thus far on Friday. Just a few money gross sales within the north have been reported at $215-220 this week, with most on the upper facet of that vary, and $224 within the South. The Friday morning Fed Cattle Trade on-line public sale confirmed no gross sales on the 1,668 head with bids of $218-220 dwell. Feeder cattle futures are 27 cents to $1.60 greater at noon. The CME Feeder Cattle Index was up $1.14 to $341.16 on November 19.
Late on Thursday, President Trump eliminated the 40% tariff on Brazilian beef imports (now at 26.4% with the lively tariff fee quota), retroactive to November 13.
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A Reuters survey of analysts is in search of October placements to be tallied 7.9% beneath final yr, with marketings seen down 7.6%. November 1 on feed is seen 2.2% beneath final yr. The report shall be launched this afternoon.
USDA reported Wholesale Boxed Beef costs greater within the Friday AM report, with the Chc/Sel unfold narrowing to $13.19. Selection bins have been up 33 cents to $371.61, whereas Choose was $4.24 greater at $358.42. USDA federally inspected cattle slaughter for Thursday was estimated at 120,000 head, with the weekly complete at 477,000 head. That 6,000 head above final week however 22,435 head beneath the identical week final yr.
Dec 25 Stay Cattle are at $216.025, up $1.300,
Feb 26 Stay Cattle are at $216.625, up $1.225,
Apr 26 Stay Cattle are at $216.975, up $1.400,
Jan 26 Feeder Cattle are at $316.650, up $0.275
Mar 26 Feeder Cattle are at $309.825, up $1.275
Apr 26 Feeder Cattle are at $308.125, up $1.575
On the date of publication,
Austin Schroeder
didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions.
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