Market Overview

USDA Cattle On Feed Seen As Neutral For Live Cattle Futures

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April live cattle opened a bit lower on Monday, last trading at 148.32, down 0.25. June Live cattle was trading at 141.17, down 0.65.

Market talk shows Friday's Cattle on Feed was fairly neutral considering the decline in cattle futures on Friday. Placements for the month of January were 88.7 percent of last year versus estimates of 87.3 percent. Marketings were 90.9 percent, a bit less than estimates. February 1 cattle-on-feed was 100.3 percent, a bit higher than estimates.

Friday's USDA cold storage report showed that total frozen beef stocks on January 31 were up over 14 percent from last year and over 10 percent on the month at 490.9 million pounds. Beef production last week was 427.2 million pounds, down 0.3 percent from last year. USDA reported last week that weekly U.S. beef export sales were 10,800 tons.

Posted-In: Futures Commodities Markets

 

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