Feeder Cattle Futures PricesFri, Dec 20th, 2013
Latest Brugler Feeder Cattle Report
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Cattle futures settled 42 to 92 cents higher. Feeders were also in positive territory and finished $0.05 to $0.30 higher. Estimated week to date slaughter (including Saturday estimates) was reported at 613,000 head compared to 632,000 head last year. The latest Commitment of Traders data for the reporting period between Dec 10 – Dec 17 showed managed money decreased their net long position in live cattle by 937 contracts bringing their total net long position to 89,271contracts. Boxed beef prices were lower today with choice cuts down $0.92 at $196.79 while select cuts were down $0.35 at $188.43. The CME Feeder Cattle Index was down $0.37 from the previous day at $166.53. The December Cattle on Feed report was released after the close and showed On Feed numbers at 94.51% of year ago, which was just slightly lower than the avg trade guess. Placements were reported at 96.88%, while Marketings were at 95.46% of year ago.
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