Live cattle futures posted losses of $1.65 to $1.90 in the nearby contracts on Friday. Feeder cattle futures were steady to 67.5 cents lower, trying to narrow the feeder/fat spreads. The CME feeder cattle index was 39 cents higher at $159.37 on November 9. Wholesale beef prices were mixed on Friday afternoon. Choice was up $1.11 at $213.85, with select boxes $3.79 lower at $194.51. That widened the Ch/Select spread to $19.34. Estimated weekly FI cattle slaughter through Saturday is 623,000 head, 19,000 fewer than the previous week and 8,000 head above the same week last year. Total 2017 commitments for US beef exports are still 10.9% above last year.

Dec 17 Cattle closed at $120.575, down $1.900,

Feb 18 Cattle closed at $126.750, down $1.775,

Apr 18 Cattle closed at $127.100, down $1.650,

Nov 17 Feeder Cattle closed at $158.475, unch,

Jan 18 Feeder Cattle closed at $157.175, down $0.675

Mar 18 Feeder Cattle closed at $155.075, down $0.325

Market Commentary provided by:

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