Feeder Cattle Futures Market News and Commentary
Friday action in the live cattle futures is pushing prices lower by 2 to 22 cents at midday, with April up 35 cents. As for nearby feeder futures, prices are 40 to 57 cents lower at midday. The 01/15 CME Feeder Cattle index was down 22 cents to $146.35. The USDA reported that Friday cash sales are mostly $123 to $124, with some higher graded cattle sold at $126.50. Dressed sales are steady within the $198 and $200 range. Morning boxed beef prices were again higher, but the closely watched Chc/Sel spread dropped below a dollar to $0.54. Choice boxes were $1.09 higher, and select boxes were up by $1.98. USDA estimated WTD FI cattle slaughter through Thursday at 488,000 head, which was the same pace as last week.
Feb 20 Cattle are at $125.900, down $0.225,
Apr 20 Cattle are at $126.775, up $0.350,
Jun 20 Cattle are at $118.825, down $0.025,
Jan 20 Feeder Cattle are at $144.850, down $0.575
Mar 20 Feeder Cattle are at $144... Read more