Live Cattle (P) Futures PricesMonday, Jun 17th, 2013
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Latest Brugler Live Cattle (P) Report
Cattle futures closed are 60 to 107 cents higher today amid optimism that the Fed will continue to spike the punch bowl with easy money following the FOMC meeting this week. Wholesale beef prices did firm, with choice boxed beef quoted $1.66 higher in the pm report. Select values were up 24 cents. Post Memorial Day buying interest has been tepid, but Fathers Day helped clear out some inventory. Monday FI slaughter was estimated at 123,000 head, about 5,000 smaller than the same Monday in 2012. USDA showed an improvement in pasture conditions, with 52% now rated good or excellent vs. 49% last week.
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