Live Cattle (P) Futures PricesFri, Aug 1st, 2014
Latest Brugler Live Cattle (P) Report
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Cattle futures settled $0.80 to $1.65 lower on the day. Feeders settled $0.47 to $1.57 lower on the day. Estimated weekly slaughter was reported at 574,000 head compared to 571,000 head last week. Wholesale beef prices are lower, with choice boxes down $0.53 at $263.13 and select boxes down $2.48 at $258.12. The choice/select spread is at $5.01. Cash cattle activity reported this morning included 2,149 head of live cattle changing hands at $163 in Nebraska, along with a few hundred dressed sales reported at $258. There were a few hundred head sold in Iowa and went for between $162 and $164. Colorado sales were less than 100 head, but sold for $165. The CFTC Commitment of Traders report showed managed money accounts decreasing their net long position in live cattle by 2,218 contracts last week bringing their overall net long position to 116,437 contracts
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