Live Cattle Futures PricesMon, Mar 30th, 2015
Latest Brugler Live Cattle Report
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Live Cattle futures are trading 40 to 60 cents lower at midday, giving back part of the Friday advance. Feeder futures are showing triple digit losses in the front three contracts due to the combination of lower cattle futures and higher feed grains. The CME feeder cattle index dropped 92 cents to $216.71. Wholesale prices are up sharply this morning. USDA is quoted Choice boxes $1.70 higher, with Select up $2.57. Beef production YTD is down 5%. Managed money added a hefty 12,000 contracts for CFTC reporting week to their more than 64,000 long positions in live cattle futures.
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