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Cattle Market Up Triple Digits in Front of Weekend.
BRUG - Fri Dec 13, 4:42PM CST

Live cattle futures were higher Friday, by more than $2 in many contracts. Dec futures finished the week with a $2.17 1/2 gain over last week. Feb futures led the Friday rally with a $2.72 push. Feeder cattle futures neared the $4.00 mark, with Jan futures finishing with a $3.95 gain pushing the wk/wk gain to $4.21 1/2 to go into the weekend. The 12/12 CME Feeder Cattle index was at $143.40 after a 9 cent recovery. Live cattle spec traders were shown at 81,013 contracts long on net as of Tuesday. Their CFTC net position grew by 2,799 contracts wk/wk. Managed money was net long feeders too, with the Commitment of Traders report showing a wk/wk increase of 260 contracts to 1,631 net long. Spec trader OI was down from last week but above the 5-week average. The USDA afternoon update showed wholesale boxed beef prices tightened the spread after a small increase. Choice boxes were up by $0.64, while select boxes were $1.68 higher, and the current Chc/Sel spread was 12.05. The USDA reported Friday cash sales of live cattle from $118 to $122 higher, reports range from $188 to $194 for dressed cattle sales. Results from this Friday’s FCE auction saw 977 head unsold, with offers of $120-121. The USDA estimated FI cattle slaughter to be 662,000 head through Saturday, that is 8,000 head above the same week last year, and pushed the yearly estimate to 31.69 million head.

Dec 19 Cattle closed at $122.500, up $2.075,

Feb 20 Cattle closed at $127.825, up $2.725,

Apr 20 Cattle closed at $128.425, up $2.225,

Jan 20 Feeder Cattle closed at $146.500, up $3.950

Mar 20 Feeder Cattle closed at $146.775, up $3.325

Apr 20 Feeder Cattle closed at $148.450, up $2.875

---provided by Brugler Marketing & Management

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