Live Cattle (Pit) Futures Market News and Commentary
Thursday’s live cattle futures are trading 20 to 37 cents lower so far. Feeders are working 25 to 80 cents in the red. Jan feeders are up by 20 cents as the exception. There were no sales on Wednesday’s FCE auction, following no bids for the 986 head listed. USDA reported light cash business for Wednesday in the South at $152 - $153. The CME Feeder Cattle Index for 1/24 was $177.77, after a 24 cent bounce.
Beef bookings were 25,135 MT for the week that ended 1/19. That was 76% higher than the same week that ended last year, and was also 45% higher wk/wk. South Korea was the top buyer with 10k MT purchased on the week. Beef shipments are at 40,564 MT for the season through 1/19.
USDA’s Wholesale Boxed Beef prices were shown 23 cents higher for Choice at $268.51 and 15 cents lower for Select at $251.65. USDA estimated FI cattle slaughter for the week through Wednesday at 378k head. That was 5k head more than last week and was 19k head more than the same week last year.... Read more