Feeder Cattle Futures Market News and Commentary
Live cattle futures were up by as much as 97 cents after posting losses yesterday. Feeder cattle futures rallied $0.75 to $1.22 on a turnaround Thursday. The 11/13 CME Feeder Cattle index was lower by $0.05 on to $147.39. Afternoon boxed beef prices were lower. Choice boxes were seen $1.28 lower at $241.06, while select boxes had fallen by $1.69 to $215.84. There will be an additional online auction on the Fed Cattle Exchange Friday, with 1,264 head listed. Light cash trade of $115 in the South and $116.50 in NE has been reported so far this week, Nebraska dressed trades have gained $1.00 over last week, with $182.00 sales reported today. JBS stated that beef consumption in China is “impressive”, citing the inflation caused by the pork shortage. The USDA estimated FI cattle slaughter weekly total is at 467,000 as of Thursday. That is 6,000 head below the same pace a year ago and 3,000 head below last Thursday’s weekly total.
DEC 19 Cattle closed at $119.075, up $... Read more