Live Cattle (P) Futures PricesThu, Mar 5th, 2015
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Live cattle futures are lower on the day following the limit-up move seen on Wednesday, and relatively weak beef export sales in the weekly report from the USDA this morning. Feeder futures are mostly higher on the day, showing gains from a dime in the SEP contract to more than a dollar in the May. March feeders however are down a $1 at $206.225. The latest CME feeder cattle index reported was $206.65 for the Tuesday average. Cash cattle trade has not developed with enough sales to determine market trend this week. Asking prices are around $162. The Choice boxed beef cutout is up $0.33 at $248.91, and Select boxes are 23 cents higher at $247.46. Week to date cattle slaughter at 324,000 head is up 15,000 from last week but lags year ago by 8,000. USDA this morning reported weekly beef export sales of 8600 MT through February 26.
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