Live Cattle Futures PricesMonday, May 20th, 2013
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Latest Brugler Live Cattle Report
Cattle futures are called 20 to 50 cents lower on the open this morning. USA put Cattle on Feed as of May 1 @ 96.62% of last year, higher than the 96.1% average pre-report guess. Marketings were a little light at 102.2% of last year. Placements came in at 115.1%, about 2 whole points higher than the average pre-report estimate. Wholesale prices were mixed, with choice boxed beef breaking through the $209 level and gaining 74 cents on the day. Select boxes were 40 cents lower. For the week, cattle futures were $1.05 lower, while feeder cattle were down $1.47. Cash cattle bids prices on Friday were mostly $1 lower than the previous week. The weekly CFTC Commitment of Traders report on Friday afternoon showed managed money specs decreased their net long position by 4,336 contracts in the reporting week ending May 14.
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