Cattle Market Works Higher in Long Running Uptrend

Front month live cattle futures ended the Monday session 27 to 65 cents higher. Feeders rallied off midday losses and closed the session 5 to 50 cents higher. The 10/2 Feeder Cattle Index from CME was 22 cents lower at $142.74. There have been no reports of cash trade yet this week, last week’s sales were mostly $107-$108. Wholesale boxed beef prices were mixed, tightening the Choice/Select spread to $8.97. Choice boxes were $216.98, down $1.90. Select boxes were $0.40 higher to $208.01. USDA estimates 119,000 head of cattle slaughtered on Monday. Compared to 118 for both LW and LY.

--- provided by Brugler Marketing & Management

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