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Cattle Futures: 'Bitter Cold' Sweeps Across Plains, February Closes at 19 Day High, Wednesday

05 December 2013

US - Weakness in hog and stock market prices was offset by cold winter weather moving into the plains and talk of tight supply, report Chicago analysts.

December live cattle closed 20 cents higher at $132.72.

This is according to CME analysts, who also reported February cattle as closing 32 higher on the session and experienced the highest close since November 15th. The market saw quiet and choppy two-sided trade and managed to close up near the highs.

Choice boxed beef cutout values reached $203.65 this morning, up $.65 from yesterday and still up from $201.42 last week. Select prices were up 58 cents to $190.53.

There were 188 loads traded yesterday as compared with just 65 on Monday and the jump in movement added to the positive tone.

Slaughter came in above trade expectations at 123,000 head which can sometimes suggest strong demand from the packer for live inventory.

TheCattleSite News Desk

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