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Feeder Cattle Jan '17 (GFF17) CME

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Brugler report

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Live cattle futures were mixed, from 40 cents lower to 50 cents higher yesterday. Feeders were 27 lower to 10 cents higher despite sharply higher corn prices. The Jan17 contract is at $124.325, while the CME Feeder Index for 12/2 was $131.24, up 20 cents. Cash cattle trade was limited to collection of show lists. Steer prices on Friday ranged from $112 to $114, with IA/MN the weakest. Wholesale beef prices were higher on moderate demand and offerings. Choice was up $1.67 to$191.39 in the afternoon report, with Select up 53 cents to $173.23. Estimated Monday FI slaughter at 115,000 head would be up 1,000 from last week and up 4,000 from year ago.
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