Live cattle futures rallied on cash strength on Friday, with contracts up 45 cents to $1.17. There were another 5 deliveries against October on Friday to the West Point, NE location. The Friday morning Central Stockyards online Fed Cattle Exchange auction showed sales on 775 of the 2,720 head listed at $188-189. Outside of that last week, there were Southern sales of $188 and Northern sales of $188 live and $296 in the beef. Feeder cattle futures posted gains of $1.60 to $2.37. The CME Feeder Cattle Index was up 55 cents at $250.80 on October 17.

Export sales of beef totaled 14,100 MT in the week of 10/10, a slight 2.55% increase from the week prior. Japan was the top buyer of 4,600 MT, with South Korea buying 2,600 MT. Shipments totaled 15,300 MT in that week, a reduction of 4.5% from the previous week. The top destinations were Japan and South Korea, each at 3,800 MT, with 1,900 MT headed to China.

Weekly Commitment of Traders data showed managed money continuing to add to their net long position as of October 15, by 8,703 contracts. As of that Tuesday, they were net long 85,729 contracts. In feeder cattle, they added 1,136 contracts to their net long at 8,840 contracts.

USDA wholesale Boxed Beef prices were higher again in the Friday afternoon report. Choice boxes were up $1.39 to $320.65/cwt, with Select 68 cents higher @ $294.20. The Chc/Select spread widened to $26.45. USDA estimated last week’s federally inspected cattle slaughter at 608,000 head through Saturday. That is 22,000 head above the previous week but down 29,911 head from the same week last year.

Oct 24 Live Cattle  are at $187.625, up $1.000,

Dec 24 Live Cattle  are at $187.325, up $1.150,

Feb 25 Live Cattle  are at $188.125, up $1.150,

Oct 24 Feeder Cattle  are at $248.325, up $1.600

Nov 24 Feeder Cattle  are at $247.600, up $1.850

Jan 25 Feeder Cattle  are at $245.500, up $2.375