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Cattle Futures: Gains Posted Except April Contract, Tuesday

30 October 2013

US - Tuesday's trading closed with gains across most live contracts, except April 2014 which closed five cents lower.

Biggest gains were seen for December, which finished 47 1/2 cents higher. October cattle finished 25 cents lower at $133.40.

ProFarmer analysts reported futures gaining because of an increase in choice beef.

December cattle closed nearly 50 higher on the day and experienced the highest close since February.

Ideas that cash can trade steady to maybe higher from last week's record high helped to support the market. Cattle was trading slightly lower on the day into the pit opening but speculative buying helped to support.

Talk that cattle weights should remain under last year due to the lack of Zilmax added to the positive tone.

Open interest remains in a steady uptrend and reached the highest level since April 30th.

Choice boxed-beef cut-out values at mid-session came in at $204.22, up $1.10 from yesterday and up from $199.33 last week.

Slaughter came in slightly above trade expectations at 123,000 head.

TheCattleSite News Desk

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