Live Cattle Futures Market News and Commentary
Thursday’s session ended with live cattle futures 7 to 27 cents weaker. The bonus FCE auction sold 681 of the 3,398 head listed for $137. The other pens went unsold on $137.50 to $138.50 asks. USDA maintains $137 for the bulk of cash sales this week. Some higher graded cattle went for $139, as the week’s full range has been $136 - $139. Feeder cattle ended the day 22 to 67 cents weaker. The CME Feeder Cattle Index was down another 4 cents on 1/19 to $161.20.
Going into the monthly CoF report, analysts surveyed anticipate seeing 0.2% fewer cattle on feed as of Jan 1 than in 2021. That implies 11.943m head on average. December placements are expected to be between even with and 5% above Jan ’21, with 2.6% the average. The average estimate for December marketings is 0.8% higher yr/yr.
Wholesale Boxed Beef prices for Thursday afternoon were $292.98 in Choice and $282.18 cwt. in Select. That was another $1.38 and $1.75 stronger for each respectively. USDA estimated FI catt... Read more