Live Cattle (P) Futures PricesThu, Mar 5th, 2015
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Live cattle futures were lower on the day following the limit-up move seen on Wednesday and noting relatively weak beef export sales in the weekly report from USDA this morning. The latest CME feeder cattle index reported was $206.66 for Wednesday, up one penny. Cash cattle trade has not developed with enough sales to determine market trend this week as packers and feedlots remain in a standoff with a spread of about $5/cwt. The Choice boxed beef cutout was up $0.62 at $249.20, and Select boxes were down 65 cents at $246.58. Week to date cattle slaughter at 432,000 head is up 15,000 from last week but lags year ago by 10,000. USDA this morning reported weekly net beef export sales for the week ended Feb. 26 at 8600 MT, the lowest weekly total since mid-December.
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