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Live cattle futures ended the day with losses mostly from 7.5 cents to 40 cents with October feeling the most pressure and settling with a $1.87 premium to the CME Index with which it needs to converge at expiration on Thursday. Boxed beef prices were higher in the afternoon report, with Choice 600-900# product $1.09 higher and Select up $1.75. WTD estimated slaughter is 228,000 head, down 2,000 head vs. last week and up 5,000 head vs. a year ago. Cash cattle activity consists mostly of collecting show lists after a strong Friday/Saturday market. Initial asking prices appear to be around $105, with both sides waiting to see if the board rally has staying power.
Oct 16 Cattle settled at $102.725, down $0.400,
Dec 16 Cattle settled at $103.900, down $0.350,
Feb 17 Cattle settled at $104.550, down $0.075,
Oct 16 Feeder Cattle settled at $121.550, down $0.825
Nov 16 Feeder Cattle settled at $122.650, up $0.125
Jan 17 Feeder Cattle settled at $117.700, down $0.375