• 
• See all for International Business Times
• View Print Version

• Investors Liquidate 'Anti-USD' Trades ahead of FOMC Meeting
• Michael Berry: Gold Reacts and Mining Sector Benefits
• Jerry Swank: The Man with the MLP Plan

December cattle pushed to a 5-session low yesterday and closed at the lowest level since October 14th, as concerns that cash cattle could be weaker this week and the firm US dollar added to the negative tone. There are ideas that beef prices and cash cattle prices have peaked and could drift lower over the near term, but longer term supply fundamentals still appear positive. Some traders feel that if prices for the 2011 cattle futures decline too far, there will be less incentive for feedlots to place cattle in October and November, which in turn could tighten 2nd quarter supplies. The estimated cattle slaughter came in at 130,000 head yesterday. This brings the total for the week so far to 260,000 head, up from 259,000 head last week at this time and up from 249,000 head a year ago. Boxed beef cutout values were down $1.07 at mid-session yesterday and closed $1.64 lower at $160.56. This was up from $157.99 the prior week, and is the lowest beef price since October 20th. Packer profit margins are still in the black but are lower from last week.

View All Market Commentary

The daily commentaries provide a recap of each product's traded price activity, an analysis of the factors that influenced price activity, a recap of any reports released that day, and a look ahead at the next day's schedule. CME Group provides market commentaries for corn, wheat, soybeans, gold, silver, FX, equity indexes and regional market updates.  

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

Related Commodities Articles

• 
  First Solar Helps Industry Skyrocket
  5/24/2013 02:00 PM
• 
  Canadian Market Slightly Lower, But Has Overcome Strong Several Sell Offs; Valeant Surging On Bausch & Lomb Reports
  5/24/2013 01:57 PM
• 
  Bonavista Energy Closes Private Placements of Senior Notes, Raises $225M
  5/24/2013 01:51 PM