Feeder Cattle (P) Futures PricesFriday, May 24th, 2013
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Latest Brugler Feeder Cattle (P) Report
Cattle futures posted triple digit gains today, with June futures getting back to the speedline support on the weekly chart. Futures also posted a net gain for the week. Wholesale prices were down hard after setting an all time high for the Choice product on Thursday. Choice was quoted $2.50 lower in the afternoon report. Select product was down $1.08 per cwt. Estimated weekly slaughter is 648,000 head. That is down 4000 from last week, but 8000 head larger than the same week in 2012. This is due to an expected Saturday kill 15,000 head larger than the one a year ago. Some cash cattle trade was reported at $125.50-126.00 in Colorado, but volume trade in Nebraska was mostly $199-201.00, a little weaker than at midweek.
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