U.S. livestock: Cattle markets up ahead of report

Cattle futures on the Chicago Mercantile Change have been stronger on Friday, with positioning forward of the U.S. Division of Agriculture’s newest cattle on feed report behind a lot of the exercise.

The report got here out after the markets closed, with placements in August down 10 per cent on the yr at 1.78 million head and marketings the bottom for the month on document at 1.571 million head.

A complete of 11.08 million head of cattle have been on feed within the U.S. as of Sept. 1, which was down one per cent from the identical time a yr in the past.

The October dwell cattle contract gained 1.200 cents per pound at 233.575 cents whereas the December contract was up 1.575 cents at 235.725 cents.

October feeder cattle futures have been up by 2.375 cents per pound at 354.100 cents per pound.

The U.S. Division of Agriculture reported wholesale boxed beef costs have been down on the day, with alternative containers $3.76 decrease at $382.05 per hundredweight and choose containers down $1.39 at $359.92/cwt.

Lean hog costs have been blended, with the close by October contract up 0.5005 cents per pound at 97.975 cents, whereas December was down 0.075 cents at 87.625 cents.

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