Feeder Cattle September 2010 (GFU10)

Live Cattle futures finished sharply lower today but were up $0.33 for the week. Cash Cattle trade was inactive in KS and TX/OK but there was some business in NE at a dollar lower than last week; $122 to $123 in the dressed and $197 to $198 in the beef. NE seems to be the market for KS and TX lately. USDA sees the average cash cattle price for the year being between $121 and $129, up a dollar on both ends from the January estimate. Wholesale beef prices were mixed this afternoon. Choice was $0.33 higher and Select was $0.44 lower. The spread is at $4.78. The CFTC report showed Managed Money increased their net longs in Cattle and Feeder Cattle slightly.

Feb 12 Cattle closed at $123.950, down $1.225,
Apr 12 Cattle closed at $126.800, down $1.400,
Jun 12 Cattle closed at $125.950, down $1.200,
Mar 12 Feeder Cattle closed at $153.625, down $1.525
Apr 12 Feeder Cattle closed at $155.750, down $1.500
May 12 Feeder Cattle closed at $157.300, down $1.525