Cattle and Beef Update 11/7/2020

Cattle markets entered November with solid gains across all sectors.

Cash fed cattle markets traded $1 to $2 higher, with prices in the South at $107, while prices in the North were significantly higher at $107, with dressed trade at $167 per cwt., from $2 to as much as $9 higher.

December live cattle futures pushed to their highest level since Oct. 16 in early trade and finished in the upper half of their daily trading range with gains of 30 to 70 points. The December contract finished $1.10 higher for the week. Feeder cattle ended steady to 52 ½ cents higher through the May contract, with the January contract jumping $4.50 for the week.

Choice boxed beef closed at $213.31 per cwt. Friday, $4.99 higher than the previous week. Select boxed beef closed at $197.76 per cwt., $3.43 higher than the previous week. Buyers were said to be active in the market as demand increases seasonally.

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