Live Cattle (P) Futures PricesWed, Jul 1st, 2015
Latest Brugler Live Cattle (P) Report
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Live cattle futures finished considerably higher with the first two contracts limit up after losses on Tuesday. Feeder cattle futures closed much higher on Wednesday as well, up $1.90 to $3.70, after suffering some limit losses on Tuesday. Higher cattle and lower feed prices helped in its price climb today. The CME Index for the 6/29 average is at $228.45, off 61 cents. The ban preventing Argentina and Brazil from exporting fresh beef to the US will soon be lifted. The countries have become free of the many diseases that forced the ban to be put into place in 2001. Just over 18,000 cash sales took place across the Midwest today, with prices ranging from $148-$153 live, and $235-$240 dressed. Everyone wants to wrap things up before the holiday. Wholesale prices are lower for both choice and select boxes in the afternoon report. Average choice prices lost 44 cents, while select slipped 9 cents to $249.26. The spread is now $3.03, the lowest since March 24, when the spread was $2.05.
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