Cattle Futures - Live Cattle Mixed
US - Chicago Mercantile Exchange live cattle settled mixed as traders squared positions before the weekend, speculated about this week's cash trade and positioned before Friday's cattle report.
28 January 2008
1 minute read
Live cattle opened mainly weak on short-term longs who took profits after Thursday's rally and listless wholesale beef sales. Also, growing anxiety before this week's cash cattle trade, and ahead of the U.S. Department of Agriculture's monthly cattle survey, dampened initial buying enthusiasm.
USDA's cattle report is scheduled for release Friday at 3 p.m. EST. The following are analysts' estimates for the data in percentages of a year ago:
| . | Average of Estimates | Range of Estimates |
|---|---|---|
| On Feed in Jan |
101.1
|
100.0-102.0
|
| Placed in Dec |
102.6
|
94.2-105.4
|
| Marketed in Dec |
100.3
|
98.9-103.0
|
The U.S. Department of Agriculture's midday boxed beef wire reported choice cuts down $0.33 per hundredweight and select items slipped $0.34.
Source: FXSTREET
