Feeder Cattle Futures PricesThu, Apr 27th, 2017
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Live cattle futures traded sharply higher on Thursday, as April was $3.575 higher with most back months limit up. There is no limit in the delivery month. Feeder Cattle futures were limit higher in most contracts, with April up $1 at $140.85 with its last trading day today and a need to match tomorrow’s index. There will be expanded limits tomorrow, $4.50 for live cattle and $6.75 for feeders. The CME feeder cattle index was at $139.86 on 4/26, up 22 cents from the previous day. Wholesale beef prices were mixed in the afternoon report. Choice boxes averaged $219.15, down 3 cents, with select gaining 96 cents with an average price of $207.02. The UDSA reported cash sales of $135-$138 in TX, with $136-$138 in KS. Live sales in NE were $135-$140, with dressed sales running $215-$219. Estimated FI cattle slaughter was 464,000 head through Thursday, up 9,000 from a week ago and 16,000 head from the same Thursday in 2016. Beef export sales for the week of April 20 were 21,222 MT, 8% larger than last week and 75.5% ahead of this time last year. Exports were unchanged from last week and 22.9% above the same week a year ago.
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