Feeder Cattle Futures PricesFri, Jan 30th, 2015
Latest Brugler Feeder Cattle Report
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Live and feeder cattle futures finished the day with solid gains, and the front months posted weekly gains of $4.50 and $3.52 respectively. Cash cattle trade was mostly $160 today. The few dressed sales reported were mostly at $254, steady with last week. Weekly slaughter including Saturday was estimated at 563,000 head, off 13,000 head from a week ago, and 9,000 head smaller than the same week a year ago. Wholesale beef continued to slip, with Choice off $2.15 on the day and $11.30 from Friday to Friday. Select boxes were down $2.60 on the day, and down $11.49 for the week. The CME feeder cattle index dropped $2.21 and was reported at $211.69. The Commitment of Traders report showed managed money accounts were still lightening up on their net long position during the week ending last Tuesday. Their net long position was reported at 58,975 contracts, which was -6,314 contracts smaller than the previous week.
However, the January Cattle Inventory report from USDA this afternoon leaned toward the beef bears: All cattle and calves came in at 89.8 million head, a 1.44% increase over last year. All cows and heifers that have calved, at 39 million, were up 1.85%, with beef cows up 2.09%.
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