Live Cattle (P) Futures PricesFri, Nov 21st, 2014
Latest Brugler Live Cattle (P) Report
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Cattle futures and feeder futures were mostly higher on the day ahead of the monthly Cattle on Feed and Cold Storage reports from the USDA. COF on November 1 were 100.45% of a year ago, placements were 99.12%, and marketings were 92.23% of what they were at this point last year. The average pre-report trade expectations were for 99.5%, 95.8% and 93.1% respectively, so it was bearish on paper. Beef stocks in cold storage were 85.18% of a year ago, and were up 0.19% from the previous month. The CME Feeder Index came in at $240.11, up 14 cents. Wholesale beef prices were lower on the day with the Choice boxes averaging 17 cents lower than yesterday, and Select boxes down $1.06 from Thursday. Choice beef added $3.06 since last Friday, and Select picked up $3.64 during the week. Some $172 cash cattle trade occurred today, with $268 in the carcass market. As of the Tuesday close, managed money accounts were shown to have added about 6% to their net long position in the weekly report from the CFTC.
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