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Cattle Futures Sliding on Supply Concerns

Summary:
The USDA’s September Cattle on Feed report showed August placements up by 15% year on year, marketings up by 18% compared to last August, and the number of cattle on feed as of September 1 at 10,135 thousand head, up 1% from this time in 2015. According to a Drovers article, the average trade predictions prior to release were for placements to be up 13.1%, marketings to be up 17.5%, and September 1 cattle on feed to be at 1.2%. Beef production is 17% above the previous year at 2.26 billion pounds, and cattle slaughter is up 18% from August 2015 at 2.75 million head, according to monthly data released by the USDA. The data also shows average live weight dropped 11 pounds from last year to 1,352 pounds. The most actively traded CME live cattle contract for December delivery fell 1 cent on Monday to close at .05850 per pound, while the front month October contract fell 0.725 cent to settle at .06550 per pound. The February 2017 contract dropped 0.950 cent to settle at .06150 per pound. October feeder cattle dropped 1.525 cents on Monday to settle at .30850 per pound, while the November contract lost 2.050 cents to close at .27675 per pound. The CME feeder cattle index price dropped 1.525 cents to .30850 per pound. Midday choice beef cutout price for September 26 is up %excerpt%.23 from the previous day at 7.04 per cwt, while the select cuts are up by %excerpt%.84 to 9.

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The USDA’s September Cattle on Feed report showed August placements up by 15% year on year, marketings up by 18% compared to last August, and the number of cattle on feed as of September 1 at 10,135 thousand head, up 1% from this time in 2015.

According to a Drovers article, the average trade predictions prior to release were for placements to be up 13.1%, marketings to be up 17.5%, and September 1 cattle on feed to be at 1.2%.

Beef production is 17% above the previous year at 2.26 billion pounds, and cattle slaughter is up 18% from August 2015 at 2.75 million head, according to monthly data released by the USDA. The data also shows average live weight dropped 11 pounds from last year to 1,352 pounds.

The most actively traded CME live cattle contract for December delivery fell 1 cent on Monday to close at $1.05850 per pound, while the front month October contract fell 0.725 cent to settle at $1.06550 per pound. The February 2017 contract dropped 0.950 cent to settle at $1.06150 per pound.

October feeder cattle dropped 1.525 cents on Monday to settle at $1.30850 per pound, while the November contract lost 2.050 cents to close at $1.27675 per pound. The CME feeder cattle index price dropped 1.525 cents to $1.30850 per pound.

Midday choice beef cutout price for September 26 is up $0.23 from the previous day at $187.04 per cwt, while the select cuts are up by $0.84 to $179.65 per cwt, according to data provided by the USDA.

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Brent Lantzy
Writing is in my DNA. That is, I don’t know why I've always had the inclination to write, or why I’ve always been particularly good at communicating effectively through the written word. It is simply a part of who I am. Now, I’ve turned this skill into a business, lending my best writing efforts to professional projects requiring a unique, creative, and human touch.

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