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Wednesday, Sept. 20, 2017

The Fed Cattle Exchange online auction was held today. 3 lots sold in this weeks FCE auction, all based out of the south, making it the largest auction trade in 3 weeks. 636 head trade, out of the 1,450 on the list (43.86% sold). The weighted average price from the total auction sales was $106.675 vs $104.750 from last weeks auction. CF cash average was $105.86 last week. Steers (444 head) brought $106.75, heifers (192 head) brought $106.50. Live cattle futures were limit up in the front contracts during the day and closed $2.97 higher in the nearby contract to $1.00 higher in the December 18 contract. Feeder cattle futures closed $2.37 to $4.47/cwt. higher today. Lean hog futures closed $1.47 lower in the nearby contract and $0.12 to $0.25 higher in the next 7 contracts. The CME lean hog index moved $0.94 lower to $61.88/cwt. and the CME feeder cattle index moved $0.01 lower to $150.46/cwt. Corn futures closed 1-1/4 to 1-3/4 cents higher, soybeans closed 3-1/4 to 4-1/2 cents higher and KC wheat closed 5-1/2 to 6-1/4 cents higher.

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Futures Market Summary

Nearby Elec. Contract Close Change High Low
Live Cattle $110.950 $2.975 $110.975 $107.775
Feeder Cattle $153.975 $2.400 $154.125 $151.375
Lean Hogs $58.650 ($1.475) $59.600 $58.475
Class III Milk $16.26 ($0.01) $16.28 $16.25
Corn $3.5000 $0.0175 $3.5150 $3.4725
Soybean $9.7000 $0.0450 $9.7400 $9.6475

USDA Beef Complex

Item Price Change
Choice $192.04 ($0.07)
Select $188.52 ($0.31)
Drop Credit $10.54 ($0.09)

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