Cattle Futures - Live Cattle Mixed

US - CME live cattle settled mixed after October through February ended innegative trading territory amid fed cattle price caution for this week.October/December forward-spreaders took on longs that rolled some of theirOctober positions into December.
calendar icon 7 September 2007
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And February live cattle was pressured by uneasiness about the contract'slofty premium to recent cash prices, but underpinned by bear-spreading out ofOctober and December.

Meanwhile, remaining live cattle contracts inched upward as CBOT corndeteriorated.

Beef futures spiked after the opening bell on cash optimism, front-monthforward spreading and Wednesday's positive wholesale boxed beef results. CBOTcorn's overnight setback contributed to early live cattle market support. And,December was also assisted by underlying 10-day moving average backing.

However, live cattle contracts slipped from morning tops after spot-Octoberand December were unable to maintain momentum above later 10-day moving averagesupport levels. Spot-month buying also dried up after midday boxed beef quotesshowed signs of weakness.

The federal government's midday boxed beef wire on Thursday showed choice andselect cuts were down $0.58 per hundredweight and $0.05.

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