Cattle Market Churning Around $120
BRUG - Wed Dec 11, 7:20AM CST

Live cattle futures finished Tuesday with 12 to 30 cent losses. Feeder cattle futures were 50 to 57 cents higher in the front months. The 12/09 CME Feeder Cattle index was $143.35 after a 2 cent bump. Afternoon boxed beef prices are lower, tightening the Choice/Select spread to $16.14. It will typically narrow to single digits by February. Choice boxes were $2.15 lower this morning at $221. 94. Select boxes dropped by $1.14 to $205.35. The online Fed Cattle Exchange will offer 1068 head today, with 600 head from Nebraska, 253 head from KS and TX offering 215 head. The USDA reported light cash sales activity in KS, hovering in the $118- $119 range. The USDA estimated Tuesday cattle slaughter under federal inspection to be 122,000 head; which put the week to date estimated slaughter at 243,000.

---provided by Brugler Marketing & Management

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