Cattle Futures: Gains Across Short Term Contracts, Tuesday09 October 2013
US - Live cattle futures finished Tuesday mixed with October cattle up 40 cents to $128.27, the highest level since 27 September.
December cattle managed gains in very quiet trade with a small range, closing up 2.5 cents on $132.32. February closed 7 1/2 cents higher, say CME analysts.
October cattle closed 40 higher on the day and up to the highest level since September 27th even with 23 deliveries for first notice day.
Expectations for higher trade in the cash market this week helped to support. Talk of a smaller showlist this week and ideas that supply will tighten helped to support.
Boxed-beef cut-out values were up 26 cents on the mid-day wire with select up 37 cents. This is according to reports from Market reporters and analysts Urner Barry.
Traders believe that the winter storm in South Dakota may have killed near 60,000 head of cattle.
TheCattleSite News Desk