Cattle Futures - Cattle Complex Weak

US - CME live cattle closed weak on late-session profit-taking and building anxiety ahead of not only this week's cash cattle exchange hands but also the cattle report.
calendar icon 21 April 2008
clock icon 1 minute read
The U.S. Department of Agriculture's monthly cattle-on-feed survey will be released on Friday at 3 p.m. EDT. The following are analysts' average estimates and ranges for the data in percentages of a year ago:

. Average of Estimates
Range of Estimates
On Feed in April
Placed in March
Marketed in March

Beef futures posted modest gains at the start on supportive boxed beef quotes and talk that packers might be forced to pay as much as $3 more for supplies this week than a week ago.

Packer bids for live-basis fed cattle rose to $90 per hundredweight on Friday from $86 earlier in the week. Asking prices on Friday were at $90 to $92, but some producers are holding out for more money.

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