TCR's Weekly Market Summary...
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For the week ending October 19th: 

  • The bright spot in the cattle/beef complex was select and choice boxed beef cutouts which closed $2 & $5 higher.  Cattle futures and fat cattle were steady while feeder cattle and stocker calves were up to $5 lower.  Friday's Cattle on Feed report showed a record number of cattle on feed with both September placements and marketings lower.  Fat cattle have sold for $111 for the past 5 weeks, which was also the price a year ago.
  • It is inevitable that the number of fat cattle available will begin to decrease in the next few weeks and demand for stocker calves will get a boost from drier weather and wheat pastures becoming ready to graze.

 

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