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Mid-Session Cattle Market Report
Wed 22 Feb 2012 11:42:00 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
Cattle traded lower early in the session with a bearish tilt to outside market forces helping to pressure the market early. A rally in the beef market and talk of a smaller showlist helped to support the rally into the mid-session with April and June cattle pushing up into new contract highs. For the Cattle-on-Feed report on Friday, traders see February 1st on-feed supply near 102.5% of last year, placements down a bit more than 1% from last year and marketings in January near unchanged from last year. Boxed-beef cut-out values came in at $196.62 this morning, up $2.47 from yesterday and up from $189.38 last week at this time.
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