Live Cattle (P) Futures PricesFri, Feb 12th, 2016
Latest Brugler Live Cattle (P) Report
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Live cattle futures are trading mostly four or five dimes lower at midday, following losses from $1.975 to $2.35 on Thursday. Feeders are currently lower, but the March contract is slightly higher after the Thursday session saw most contracts put in new lows for their moves. The CME Feeder Cattle Index for 2/10 was down 70 cents to $158.79. Negotiated cash sales reported on Thursday were between $128 and $134, with a lower average price for the >80% Choice, than the <80% Choice live steers. Dressed sales were reported at $204 to $207. The USDA reports that choice boxed beef prices are down 35 cents this morning, and select boxes are off a buck. Week to date FI slaughter was estimated 431,000 head, up 3,000 head from the same week a year ago.
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