Live Cattle Futures PricesMon, Oct 5th, 2015
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Live cattle futures traded 95 cents to $1.15 lower on Monday. October closed at $122.125 after losing $10.62 last week. Feeders closed Monday with triple digit losses on higher feed costs. The USDA reports an improved pasture and range condition this week, at 44% good to excellent (last week: 43%; 2014: 50%). The CME Feeder Cattle Index for 10/2 was down $5.13 to $182.76. It is still more than $4 above futures. Cash cattle trade was inactive on Monday, but averaged $116.72 live last week, and $187.58 dressed (around a 30% decline since the week ending 1/11). The USDA reported lower wholesale beef prices in its afternoon report. Choice boxes were off $1.80 to $203.97. Select boxes fell by $2.31 to $199.05, the first time under $200 since January 3, 2014. Estimated FI slaughter on Monday was 106,000 head, down 3,000 head from last week, and 9,000 head smaller than 2014.
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