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.
calendar icon 28 January 2008
clock icon 1 minute read
Feeder cattle settled moderately lower, lean hogs finished up but off highs and pork bellies posted sizable gains.

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
Placed in Dec
Marketed in Dec

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.

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