Cattle mixed for Veterans Day

Live cattle futures are mixed so far, with Dec futures dropping 20 cents. Feeder cattle futures are higher, with Jan futures seeing a $1 increase. Nebraska and Kansas each sold 4,500 head of cattle for the week ending 11/08, KS ranged from $114 to $115, while Nebraska cattle sold from $114-$116, with dressed going for $181-$182. The 11/07 CME Feeder Cattle index was down 25 cents to $145.84. CFTC reported that as of Tuesday, managed money was net long for live cattle futures by the largest amount since May. They were also net long feeder cattle futures (by 91 contracts), the first time managed money traders had been bullish as a group since April. The WASDE indicated that US 4th quarter beef production would be 88 million lbs higher than October’s projection, forecasted to bring the yearly production to 27,036 million lbs (about 1% above last year). Wholesale boxed beef prices weren’t updated today, as the USDA is closed for Veterans Day. Choice boxes were $239.12, and select boxes were $213.26 at Friday’s close. Last week’s total estimated FI cattle slaughter was 651,000 head, through Saturday.

DEC 19 Cattle are at $119.050, down $0.200,

FEB 19 Cattle are at $124.925, down $0.100,

APR 20 Cattle are at $126.450, up $0.350,

NOV 19 Feeder Cattle are at $147.325, up $0.325

JAN 19 Feeder Cattle are at $146.875, up $1.000

MAR 19 Feeder Cattle are at $146.350, up $0.850

--provided by Brugler Marketing & Management

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