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On Monday, live cattle futures closed with contracts up 17 cents for December, while other contracts dropped between 45 cents and $1. The USDA reported that cash trade last week ranged from $220-222 in the north, ending near $225, while southern regions saw prices between $225-226.50. There were 15 deliveries on the First Notice day, with a total slaughter estimate of 115,000 head, which is 3,776 head lower than the same week last year.
Feeder cattle futures experienced losses ranging from $2.50 to $3.40, while the CME Feeder Cattle Index fell by 67 cents to $343.06. The Monday OKC feeder cattle auction had an estimated 7,200 head, with sale prices for cattle over 800 lbs rising by $6-10 and lighter calves under 800 lbs increasing by $15-30. Beef export sales for the week of November 6 totaled 8,776 MT, the lowest in seven weeks.
Wholesale boxed beef prices were mixed, with Choice boxes down 30 cents at $360.90 and Select down $1.21 at $348.60. The Chc/Sel spread narrowed to $12.30.
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