Live Cattle Futures PricesFri, Oct 31st, 2014
Latest Brugler Live Cattle Report
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Cattle futures posted triple digit losses today. October futures expired with a $3.45 premium to the Dec contract after Oct posted another new high at $171.30 shortly after trading resumed this morning. Cash cattle trade is still not well defined, with some trade in Kansas at $168 down $1-2 from last week. Asking prices appear to be in the $170-172 range elsewhere. Estimated week to date FI slaughter including Saturday estimates is 553K head, which is 23,000 below last week and 70,000 less than the same point a year ago. Choice beef prices lost $2.15 today, but were still up $3.79 for the week. Select boxes were 78 cents lower today, but $5.87 higher than they were last Friday. The Commitment of Traders report showed managed money accounts reduced their net long position by 1,161 contracts. They are still net long 108,195 contracts.
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