Cattle Futures: Weakness in Pork and December Contract Sees February Close Lower, Tuesday
US - Liquidation selling generated lower prices for February as price action for December and pork hit February prices.
4 December 2013
1 minute read
Live cattle closed 72 cents higher for December at $132.52 and February cattle closed 17 lower on the day, write CME analysts.
A smaller showlist this week and threatening weather for northern plains cattle for later this week failed to provide much support.
A turn down to trade sharply lower on the day for hogs helped pull the market lower. The market managed to trade above yesterday's highs well ahead of the pit opening this morning due to a cold weather forecast, a lower showlist this week and firm beef prices.
Choice boxed beef cutout values reached $202.59 this morning, down $.47 from yesterday and still up from $201.32 last week. Select prices were down 95 cents to $190.53.
Slaughter came in right on trade expectations at 121,000 head.
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