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Cattle Placements Lower in October

November 21, 2016 at 13:10 by Brent Lantzy

According to USDA data, October placements in feedlots totaled 2.17 million head, 5% less than the same time in 2015. Marketings of fed cattle during October reached 1.71 million head, a 5% increase from 2015. The November on feed number reached 10.7 million head, marking a 1% decrease from a year ago.

The U.S. imported 107,559 live cattle in September, a 9.5% increase from August, but a 26.3% decrease from September, 2015, according to monthly trade data from the USDA.

November WASDE data show a 0.35% increase from October in estimated 2016 beef production, and a 1.08% increase in the 2017 estimate.

The PM beef cutout value was mixed on Friday, with choice cuts at $182.95 per cwt, up $0.64 from the previous day, and select cuts down $0.09 at $161.01 per cwt. Monday’s AM report will be available at 14:30 GMT.

According to the CFTC, managed money increased their net long position in live cattle by 3,956 futures and options contracts for the period ending Tuesday, November 15. The next report will be available on November 22 at 20:30 GMT.

CME live cattle for the most heavily traded February 2017 contract closed up by 0.050 cent to settle at 1.08850 cents per pound on Friday, while the front month contract increased by 0.100 cent to settle at 1.08325 cents per pound. January 2017 feeder cattle were up by 0.050 cent to close Friday at 1.24975 cents per pound.

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