Live Cattle Futures PricesTue, Mar 31st, 2015
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Live cattle and feeder cattle futures gave up the gains seen earlier in the day and closed lower. The April live cattle lost more than $1, with slightly narrower losses in subsequent months; feeders were down 50 cents or more as cheaper corn offset some of the lost cattle value. The CME feeder cattle index rose $1.16 to $218.89 and also supported nearby April feeder futures. The cash market was quiet as packers likely awaited the new month and quarter. Though sparse, asking prices are in the $167 area and higher in the South and $267-268 in the North. Slaughter for week to date is 218,000, 6,000 ahead of a week ago but 17,000 below a year ago. USDA reports higher beef prices with Choice boxes up 90 cents at $251.70 per cwt and Select up 91 cents at $247.62.
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