Live Cattle Futures PricesMon, Nov 24th, 2014
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Cattle futures are called 25 to 50 cents lower this morning. The USDA COF report showed the number on feed November 1 was 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 numbers were bearish on paper but shorts are leery of a fade attempt if they sell aggressively. Beef stocks in cold storage were 85.18% of a year ago, and were up 0.19% from the previous month. Wholesale beef prices were lower on Friday with the Choice boxes averaging 17 cents lower 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 speculative accounts added about 6% to their net long position in the weekly report from the CFTC.
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