Pro Farmer: Cattle to Open Mixed
By Pro Farmer - Wed 09 Jan 2013 08:56:36 CT
Related Keywords: Agriculture

Live cattle futures are called to open mixed, with buying limited by steady cash cattle trade.

After light cash cattle trade at $128 in Texas yesterday, traders are taking a more cautious approach to futures this morning given the $4-plus premium February contracts hold to the cash market.

This week's cattle showlist is up from last week after supplies were carried over last week, which weakens feedlots' bargaining power.

But pressure on futures will be limited by yesterday's firmer tone in the boxed beef market on strong movement of 218 loads.

Feeder cattle futures are called mixed due to choppy price action in the corn market and an expected mixed open in live cattle.
 


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