Live Cattle Futures PricesMon, Oct 20th, 2014
Latest Brugler Live Cattle Report
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Cattle futures are trading sharply higher with the December and February contracts currently limit up on the day. Feeders are also up, with the January contract limit up at the moment. Cash cattle trade for top quality steers last week averaged $167.08 and the futures market is trying to keep up with the cash. Dressed prices averaged $259.19 with nearly a $45 range for >80% choice steers. Wholesale beef prices were reported mixed in the morning report, with average prices for Choice beef coming in 64 cents higher, and Select boxes 11 cents lower. The weekly COT report from the CFTC showed managed money accounts getting less short from Tuesday to Tuesday, reducing their net long position -1,812 contracts which, makes them net long 110,132 contracts.
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