Feeder Cattle (P) Futures PricesMon, May 2nd, 2016
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Live cattle futures closed $0.875 to $1.30 higher on Monday, after being as much as $2.075 higher this morning. Jun16 cattle finished $1.125 below their daily high. Feeders settled up 92.5 cents to $1.40, after being around $2.75 higher earlier in the day. The late push in grains going into the close pressured the cattle markets. The CME Feeder Cattle Index for 4/29 was down 87 cents to $143.43. Cash cattle trade recorded a few live sales from $120 to $124 on Friday, and dressed sales from $188 to $192. Weekly average prices were down $3.00 live, and down $6.00 dressed. Choice boxed beef prices were down $1.68 on Monday to $209.77, and select boxes were $2.31 lower to $199.96. FI slaughter on Monday was estimated at 110,000 head, steady with a week ago, but 2,000 head smaller than the same Monday a year ago. Pasture conditions were rated 58% good to excellent by the USDA this afternoon, up from 53% at this time last year.
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