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Cattle Rise With Boxed Beef Demand
Alan Brugler - BRUG - Wed Nov 25, 7:21AM CST

Live cattle futures posted another round of triple digit gains on Tuesday, with Dec up $1.35. Feeder cattle futures mirrored the gains, up $1.30 in January. The 11/19 CME Feeder Cattle Index was $137.12, up 18 cents from the previous day. Wholesale boxed beef prices were higher again on Tuesday afternoon. Choice was up $2.70 at $244.30/cwt, with Select up $2.23 to $219.71/cwt. Despite the short week, not much cash action has taken place yet. The Fed Cattle Exchange has a total of 782 head listed for this morning’s sale. USDA estimates Tuesday’s FI cattle slaughter at 122,000 head, up 1,000 from a week ago and well above last year. The week to date (WTD) is 242,000 head, up 2,000 head from last week. 

 

--- provided by Brugler Marketing & Management 

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