Live Cattle (P) Futures PricesWed, Aug 31st, 2016
Latest Brugler Live Cattle (P) Report
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Live cattle futures settled mixed on Wednesday with August up 45 cents and both Oct and Dec 90 cents lower. Feeders gave back 90 cents in the November contract to as much as $2 in the September contract. The CME Feeder Index was down 47 cents at $143.71. Wholesale beef prices were down 13 cents for choice and averaged $1.46 lower for select boxes in the Wednesday afternoon USDA report. Cash cattle trade reported this week has been mostly $110, with dressed prices averaging $174.53 for all grades. Hedgers are seeing a very attractive basis with the board below cash. Week to date slaughter is 1,000 head behind last week’s pace and 7,000 head larger than a year earlier.
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