Live Cattle (P) Futures PricesFri, Sep 19th, 2014
Latest Brugler Live Cattle (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Cattle futures settled 22 lower to 87 cents higher today. Feeders showed some strength today with the November contract closing $1.40 higher. Wholesale beef prices were lower, with Choice losing $1.17 and Select off $2.48 from Thursday afternoon. Weekly estimated slaughter including Saturday is 571K head, off 21K head from last week and down 60K head from the same week a year ago. Trade estimates for the USDA Cattle on Feed report this afternoon were calling for a 1.1% drop in the September 1 On Feed number. The report showed Cattle on Feed at 99.2% of year ago. Placements were 97.1% of year ago, and marketings came in at 90.4%, accounting for the slightly larger than expected September 1 figure. The large managed money spec funds added 7,855 contracts to their net long position in cattle futures during the week ending 9/16/14.
InsideFutures Meats News