Cattle Futures - Live Cattle Sag

US - CME live cattle ended lower on mounting anxiety before Friday's federalgovernment cattle reports, cash caution, uneven midday boxed-beef quotes andfund liquidation.
calendar icon 20 July 2007
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The U.S. Department of Agriculture's monthly cattle-on-feed and semiannualcattle inventory reports will be released Friday at 3 p.m. EDT (1900 GMT). Therange of analysts' cattle-on-feed forecasts are as follows:

Average Range of estimates of estimates On-feed in July 99.7 97.4-100.8 Placed in June 90.3 77.4- 98.7 Marketed in June 96.6 94.4-102.1

Analysts' individual estimates for July cattle inventories are shown only for the first two categories. Average Range All cattle & calves 99.7 99.5- 99.8 Annual calf crop 99.6 99.4- 99.8

Although a few head of fed cattle in Nebraska sold from $89 to $89.50 perhundredweight on a live basis, most feeders are seeking upwards of $92.Consensus speculation is that packer buyers and cattle sellers may not reach anagreement until after futures close on Friday.

And, USDA's midday boxed-beef item showed choice cuts down $1.16 perhundredweight and select up $0.19.

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