Feeder Cattle (P) Futures PricesTue, Aug 19th, 2014
Latest Brugler Feeder Cattle (P) Report
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Cattle futures are 60 cents to $1 lower in electronic trading following a weak technical performance yesterday, and recognizing some weakness in product values. Feeders are $1.50 to $2.30 lower. Both fats and feeders traded in the red on Tuesday, with October feeders losing more than $2.00 on the day. The wholesale beef market is soft on spillover pressure from a weak pork market and a strong dollar. Choice boxes were down another $2.19/cwt in the afternoon USDA report, with Select product down $2.66. Cash cattle activity has been negligible, which is typical for the first part of the week. Some asking prices in the $157 area have been reported, but no bids to date. The trade average guess for Friday’s Cattle on Feed report has numbers at 97.21% of year ago on August 1, with July placements down 9.5% from last year.
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