Cattle Market Supported by Cash Trade
BRUG - Mon Dec 02, 7:23AM CST

Live cattle futures fell on Friday by 22 to 50 cents, but still managed to gain 2.13% on the week. Feeder cattle futures followed Thanksgiving’s break with losses in the nearby contracts, futures finished $0.65 to $1.50 on the day, but had a $3.00 gain over the week. The 11/28 CME Feeder Cattle index was up 40 cents at $145.11. USDA showed beef export sales were 26,673 MT for the week ending 11/21. That was a 25.87% increase wk/wk. Accumulated exports from the same report revealed that 737,315 MT of beef have been shipped this year, which was 4.03% behind last year’s pace. Wholesale boxed beef prices were lower. Choice boxes were down 12 cents, and select boxes dropped by 30 cents. Cash cattle activity was firmer at $117-120 last week. USDA estimated the FI cattle slaughter weekly total to be 556,000 head through Saturday. The yearly total is 30.344 million head, which is 324,000 head above last year. ---provided by Brugler Marketing & Management

Market Commentary provided by:

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