Morning Livestock Report, 10/29/2015

Thursday, October 29, 2015

The cattle markets traded higher from the get go yesterday, following through on Tuesday afternoon's rally and then some. Both live cattle and feeder cattle futures closed limit higher, setting the stage for expanded daily limits today ($4.50 LC, $6.75 FC). Most active Dec live cattle futures were synthetically trading near $144.30 by day's end, another $0.70 higher than the official daily limit and would take out the recent highs established mid last week. We did see some additional scattered cash cattle deals yesterday at $138 live in the South and $208 dressed in the North, steady with Tuesday's business, and, after yesterday's futures move, I think the industry is expecting a round of higher business this next week. Packer margins are down from levels experienced a few weeks ago, but do remain positive, and the industry again finds itself willing to believe the combination of positive processing margins and normal seasonal strength in the middle meats can support the cattle markets deeper into the fall. Remember October feeder cattle futures expire today; Oct live cattle tomorrow.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.