Cattle Futures: Higher Closes In all But December Contracts
US - Bouyant trading ended with 15 to 70 cent gains, excluding the December cattle which closed down five cents at $132.05.
6 November 2013
1 minute read
December cattle closed slightly lower and February closed slightly higher after choppy and two-sided trade, write CME analysts.
Traders are somewhat concerned with the possibility of steady/weak cash this week due to a higher showlist and sluggish beef demand.
However, higher beef prices have helped to support the market at times and futures were up as much as 40 on the day early today.
February cattle are trading slightly higher on the day.
Choice boxed-beef choice cut-out values at mid-session came in at $205.32, down 24 cent on the day and this helped to pressure. However, select beef was up 90 cents to $190.33.
Slaughter came in below trade expectations for the second day in a row at 118,000 head which is sometimes a sign of weak demand from the packer.
TheCattleSite News Desk
