Live cattle futures started the week with $0.47 to $1.40 gains led by the Dec contract. Feeder cattle closed the day with 30 to 70 cent gains. Cash trade was quiet on Monday. Last week’s cash price was mostly near $150 in the South and mostly near $153 in the North with $242 in the beef. The CME Feeder Cattle Index from 11/03 was down by 64 cents to $176.99.
Wholesale Boxed Beef prices from the Monday PM report showed an 80 cent stronger Choice quote and a $4.02 increase in Select. USDA estimated Monday’s FI cattle slaughter at 123k head, setting the week’s pace 5,000 head below last week.
Dec 22 Cattle closed at $153.050, up $1.400,
Feb 23 Cattle closed at $155.025, up $0.650,
Apr 23 Cattle closed at $158.550, up $0.550,
Nov 22 Feeder Cattle closed at $178.225, up $0.400
Jan 23 Feeder Cattle closed at $179.925, up $0.300
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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