Midday Cattle Market in the Black

Live cattle futures were up by triple digits at midday; with Feb futures leading the rally with a $2.37 push. Feeder cattle futures are making a $3.00 move north, as futures are up by $2.70 to $3.80 at midday. The 12/11 CME Feeder Cattle index was at $143.31 with a 31-cent drop. The USDA showed morning boxed beef prices up after a full week of declines. Choice boxes were up $1.39, while select boxes were $1.70 higher. The USDA shows light to moderate demand for Cash sales, listing ranges of $118- $120, with a bulk around 119. Results from this week’s bonus FCE auction saw 977 head unsold, with offers of $120-121. The USDA estimates week to date FI cattle slaughter at 386,000 head through Thursday, that is 9,000 head above last week’s pace.

Dec 19 Cattle are at $122.325, up $1.900,

Feb 20 Cattle are at $127.475, up $2.375,

Apr 20 Cattle are at $128.100, up $1.900,

Jan 20 Feeder Cattle are at $146.350, up $3.800

Mar 20 Feeder Cattle are at $146.500, up $3.050

Apr 20 Feeder Cattle are at $148.275, up $2.700

---provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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