Cattle Futures Show Gains02 December 2013
US - December live cattle futures closed up 37 cents to $133.47, as post Thanksgiving trading saw strong bids on Friday.
February cattle pushed moderately higher on the day and managed to push up to a new high for the week into the mid-session on Friday to close higher and experience the highest close since November 15th.
The jump in cash prices and higher trade in Kansas cash markets this week helped to support. Traders see declining supply and improving seasonal demand for holiday parties in early December as positive forces.
Choice boxed beef cutout values reached $202.98 this morning, up $.43 from yesterday and up from $198.58 last week at this time.
Weekly U.S. beef export sales for the week ending November 21st came in at 9,400 metric tonnes, compared with the prior 4-week average of 13,060.
Cumulative sales for 2013 have reached 693,800 metric tonnes, down 17.1 per cent from last year's pace.
TheMeatSite News Desk