Live Cattle Futures PricesFri, Feb 5th, 2016
Latest Brugler Live Cattle Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Live cattle futures settled with losses mostly from 75 cents to $1.25 on Friday, after trading mostly 10 to 30 cents lower yesterday. Front month Feb16 cattle were 75 cents higher from last Friday. Feeders also closed sharply lower this afternoon, with the Mar16 contract down $3.42 on the week. The CME Feeder Cattle Index for 2/4 was a penny lower to $159.67. Cash cattle trade recorded a few live sales of $132-$134 this week, with a few dressed sales ranging from $210 to $216. The USDA reported that choice boxed beef prices were down $2.43 today to $220.60 (+$1.84 Fri to Fri), and select boxes were $1.97 lower to $216.51 (+$3.05 Fri to Fri). WTD FI slaughter including Saturday estimates was 534,000 head, down 33,000 head from last week, and 12,000 head smaller than the same week last year. Weekly beef production totaled 443.8 million pounds this week, just slightly lower than the same week in 2015. CFTC data showed that managed money reduced their net long position by 3,525 contracts in live cattle during the week ending on Tuesday, but increased their net long position in feeders by 579 contracts. The updated net long positions held as of the close on Tuesday were 9,300 contracts (live cattle) and 2,322 contracts (feeders).
InsideFutures Meats News