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.. | Average of Estimates | Range of Estimates |
---|---|---|
On Feed in April |
101.3
|
100.4-102.0
|
Placed in March |
91.9
|
87.8-98.0
|
Marketed in March |
98.0
|
96.0-99.4
|
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.
Source: FXSTREET