Live Cattle Futures PricesFri, Jul 25th, 2014
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Cattle futures settled $0.60 to $2.00 higher on the day. Feeders were $0.72 to $1.00 higher. The COF report was released after the close today. The average trade guess for July 1 On Feed was at 98.11% of year ago. USDA pegged the actual figure at 97.61%. Marketings were expected to be about 98%. The actual figure was reported at 98.24%. USDA estimated June placements at 93.81% vs. trade estimates above 96%. The CME Feeder index was $1.16 higher at $214.19. Wholesale beef prices are higher again today with Choice boxes up $1.82 at $257.38 and Select up $1.49 at $254.33. Cash cattle were SHARPLY higher this week, with some $165 trades reported on Friday. Week to date slaughter of 458,000 head is off 1,000 from last week, and down 5.5% from last year. The CFTC Commitment of Traders report showed managed money accounts decreasing their net long position in live cattle by 2,722 contracts last week bringing their overall net long position to 118,655 contracts
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