Live Cattle (P) Futures PricesMon, Aug 31st, 2015
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Live cattle futures are 5 cents to $1.50 lower today, after gaining triple digits on Friday. August live cattle expire today. According to the weekly CFTC report, managed money accounts decreased their cattle net long position by 4,937 contracts to a net long position of 17,004 contracts through Tuesday. The CME Feeder Cattle Index for 8/27 was off $1.20 at $209.85. This morning, the USDA has choice boxes 80 cents lower to $242.42, and select boxes down half that to $232.55. Weekly meat production increased for the fourth consecutive week, at 452.4 million pounds, the largest week since May 23. Average cash cattle sales last week were $144 live (-$3 from the week before), and $227 dressed (-$5).
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