Live Cattle (P) Futures PricesFri, May 29th, 2015
Latest Brugler Live Cattle (P) Report
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Live cattle futures settled 12 to 132 higher yesterday, with the front three contracts showing triple digit gains. Estimated week to date FI slaughter is 364,000 head vs. 350,000 for the same period a year ago. Cash cattle trade should develop today, although packers will tend to rely on contract cattle at the beginning of the month if they can’t get them bought right. Asking prices were at $162-163 ($258-259 in the North) on Thursday. Wholesale beef prices were lower yesterday with choice off $1.86 and select off $3.14; both lost more than 1% from Thursday to Thursday. This morning, USDA reported net weekly beef export sales of 20,800 MT. That is a new high for the marketing year and 11% more than the previous week.
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