
Live cattle futures are rallying back on Friday, with contracts $1 to $2.60 higher. December options expire today. Cash trade kicked off kicked off with $220-222 action in the north. Sothern action has been limited to bids of $218. The Friday morning Fed Cattle Exchange online auction showed dressed sales of $345 on 245 of the 1,428 head offered, with $220 live bids. Feeder cattle futures are continuing higher on Friday’s midday with contracts $2.00 to $2.85 higher. The CME Feeder Cattle Index was up another $4.02 to $341.80 on December 3.
Brazilian beef exports during November totaled 318,493 MT according to government data, up more than 90,000 MT from the year prior.