Live cattle futures are mostly 80 cents to $1.375 lower on Tuesday. Feeder cattle futures are down $1.15 to $2.525 at midday. The CME feeder cattle index was 62 cents higher at $160.00 on November 10. Wholesale beef prices were mixed on Tuesday morning. Choice was down $1.68 at $211.13, with select boxes 23 cents higher at $196.06. USDA indicated FI cattle slaughter for Monday was 117,000 head, matching week ago and 3,000 larger than the same Monday in 2016. Managed money spec funds added another 11,576 contracts to their net long position in live cattle futures and options. That net position was at 132,032 contracts for the week that ended November 7. Some of those recent arrivals are now obviously under water. Wednesday’s online FCE auction has a total of only 969 head for sale. The FCE is not meeting the objective of more publicly negotiated sales volume with those limited offerings.
Dec 17 Cattle are at $119.425, down $1.150,
Feb 18 Cattle are at $125.025, down $1.375,
Apr 18 Cattle are at $126.175, down $0.800,
Nov 17 Feeder Cattle are at $157.550, down $1.150
Jan 18 Feeder Cattle are at $154.450, down $2.525
Mar 18 Feeder Cattle are at $152.500, down $2.125