Live Cattle (P) Futures PricesThu, Oct 8th, 2015
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Live cattle futures finished trade $1.50 to $2.00 higher on Thursday, after posting triple digit gains on Wednesday. Feeders also posted extended their rally with new triple digit gains. The CME Feeder Cattle Index for 10/7 was $183.43, up $1.16 from the previous day. Beef imports (313.603 million pounds) were up 27.8% from August 2014 and the largest for the month of August since 2005. US August beef exports (175.887 million pounds) declined by 12% from July, and 23.6% from August 2014, recording the lowest export levels for the month of August since 2009. USDA weekly beef export sales increased by 20% from the previous week, recording sales of 10,600 MT during the week ending 10/1. USDA showed 2,300 MT of that total for 2016 shipment. Cash cattle trade was limited today, but a few dressed sales were reported at $190. The USDA showed choice boxes were 3 pennies higher to $203.61 today, but select boxes were 24 cents lower to $197.46. WTD estimated FI slaughter was 438,000 head down 7,000 head from last week, and 14,000 head smaller than a year ago.
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