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Live cattle futures bulls were flexing some muscles today, with the market settling $1.75 to $2.80 higher. Cash trade activity mostly consisted of collecting show lists. Feeder cattle futures had the afterburners or some boosters going, gaining $3.65 to $3.87 for the day. The CME Feeder Cattle Index was up $1.68 at $252.88.
USDA’s Wholesale Boxed Beef prices were mixed in the PM report. Choice 600-900 lbs boxes up up an average 67 cents at $317.42 per cwt. Select product was down 10 cents at $301.04. The Chc/Select spread has widened out to $16.38. USDA estimated daily FI slaughter for Monday was 121,000 head vs. 120,000 last Monday and 122,718 a year ago.
Jun 24 Live Cattle closed at $183.925, up $1.750,
Aug 24 Live Cattle closed at $179.975, up $2.800,
Oct 24 Live Cattle closed at $182.175, up $2.500,
Aug 24 Feeder Cattle closed at $258.650, up $3.725,
Sep 24 Feeder Cattle closed at $259.725, up $3.875,
Oct 24 Feeder Cattle closed at $260.200, up $3.750,
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. For more information please view the Barchart Disclosure Policy here.
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