Live Cattle Futures PricesFri, Dec 6th, 2013
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Cattle futures settled $0.22 lower to $0.05 higher. Feeders settled $0.15 to $0.35 higher. Estimated week to date slaughter (including Saturday estimates) came in at 629,000 head compared to 641,000 head for the same period a year ago. The latest Commitment of Traders data for the reporting period between Nov 26 – Dec 3 showed managed money increased their net long position in live cattle by 11,436 contracts bringing their total net long position to 91,142 contracts. Boxed beef prices were lower on the day, with choice boxes down $0.94 at $201.47 while Select boxes were down $2.64 at $186.98. Cash activity thus far in the week has been reported at $132-$133. The CME Feeder Cattle Index (as of 12/5) was up $0.57 from the previous day at $165.79. Total beef exports from the US were up 10.5% (month over month) in October according to just released Census data.
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