Live Cattle Dec '21 (LEZ21)
Live Cattle Futures Market News and Commentary
Feeders took advantage of the weaker corn trade, and closed with $0.60 to $1.07 gains. Fat cattle were mixed as Dec, Feb, and April all slid by less than 25 cents but the summer months gained 10-15 cents. Thursday’s FCE auction saw no sales between $153-154 bids and $155-156 asks for the 1,541 head listed. USDA mentioned some light Northern trade on Thursday at $157. The CME Feeder Cattle Index was $178.40 on 11/30, UNCH from 11/29.
USDA reported 15.4k MT of beef was sold for export during the week that ended 11/24. That was 19% above last week, but down 29% from the same week last year. China was the top buyer with 7.2k MT. Beef shipments for the week were 15,750 MT for a YTD total of 858k MT.
Wholesale Boxed Beef prices were weaker on Thursday afternoon, with a $1.31 drop in Choice and a penny weaker Select. USDA estimates the week’s FI cattle slaughter at 512k head through Thursday.
Dec 22 Cattle closed at $153.050, down $0.025,
Feb 23 Cattle closed a... Read more
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