Feeder Cattle Futures PricesFri, Jan 23rd, 2015
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Live cattle futures were locked limit down Friday ahead of the Cattle on Feed report and in the face of falling beef prices. They ended the week down almost 3%. Feeders lost more modestly on the week but closed down $4.50 in several contracts on Friday. Weekly slaughter was 576K, 30K more than the previous week but still well below the 600K posted this time last year. The CME cash feeder cattle index recovered 22 cents Thursday at 22.07. Boxed beef prices continued their recent decline and Choice ended Friday at $253.74, a $1.91 loss on the day; Select ended the day down $1.66, at $247.23. The Friday night USDA Cattle on Feed report showed 10.7 million head as of Jan. 1, 100.94% of last year’s level. Marketings during December at 1.66 million were down 4.7%, fairly close to trade guesses. The surprise was in December placements, which at 91.96% of year ago were smaller than expected.
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