Live Cattle Feb '18 (LEG18)
Price PerformanceSee More
|Period||Period Low||Period High||Performance|
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+4.725 (+3.98%)since 12/22/17
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+2.025 (+1.67%)since 10/20/17
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+19.200 (+18.44%)since 01/20/17
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Live cattle futures ended Friday with losses of 32.5 to 75 cents, with nearby Feb down a nickel. Feeder cattle futures were $1 to $1.575 in the red. The CME feeder cattle index on January 18 was at $148.01, up $1.54 from the previous day. Wholesale boxed beef values were lower on Friday afternoon. Choice boxes were down 83 cents at $204.86, with Select boxes 71 cents lower at $200.16. Estimated week to date FI cattle slaughter is at 615,000 head including Saturday. That is 4,000 head more than last week. Late cash trade on Friday was in the $122-123.50 range. USDA reported weekly beef export shipments of 15,072 MT on Friday, nearly 5.06% above the same week in 2017. Managed money spec traders were at their lowest reported CFTC bullish position since Nov 2016 on Tuesday. They lowered that net long position by 6,995 contracts to 70,973 contracts. Blizzard conditions in central Nebraska are expected to slow cattle movement for a few days. Initial trade ideas for Friday’s COF report have the Jan 1 On Feed number at 107.2-109.0% of last year. That report will not be issued if the government is still shut down.
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