Cattle Futures - Live Cattle Steady-Weak
US - CME live cattle settled steady to weak on maneuvering before this week's cash trade takes place and ahead of Friday afternoon's cattle report.
25 February 2008
1 minute read
USDA's monthly cattle-on-feed report is scheduled for release on Friday at 3 p.m. EST. The following are analysts' average estimates and ranges in percentages of a year ago:
| . | Average of Estimates | Range of Estimates |
|---|---|---|
| On Feed in Feb |
102.3
|
101.0-103.1
|
| Placed in Jan |
109.5
|
103.3-112.8
|
| Marketed in Jan |
101.7
|
97.0-103.0
|
Beef futures began the morning mixed as traders settled accounts before the weekend that sometimes consisted of short covering. February/April forward spreads put a floor beneath spot-February but pressured April that was also the sell-side of April/June spreads.
Meanwhile, far cattle months initially traded on either side of the board because of steady electronic-CBOT corn futures that ultimately faltered and took distant cattle contracts down with them.
Source: FXSTREET
