Live Cattle (P) Futures PricesTue, Dec 1st, 2015
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Live cattle futures settled with gains from $1.825 to as much as $2.275 in the February contract, making it a turnaround Tuesday after triple digit losses were posted on Monday. Feeder futures also posted a sharp rebound with most contracts $1.65 to $1.80 higher on the day after losing more than $3.00 yesterday. The CME Feeder Cattle Index for 11/30 was 25 cents higher to $174.05. On average, cash cattle prices were around $1.50 higher last week, as live sales climbed to an average of $124.80 and dressed sales up to $196.30. Cash cattle trade is inactive so far this week. Wholesale beef prices were lower on the day with choice boxes off $1.84 and select boxes down $2.17. WTD estimated slaughter is 1,000 head behind last week and 4,000 head behind a year ago.
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