Triple Digit Losses in Friday Cattle

The cattle complex faded on Friday on a recovery in the grain complex. Front month fat cattle futures ended the day $0.72 to $1.77 lower. December contracts were 13 cents weaker for the week. Feeder cattle ended the day 0.9% to 1.7% in the red as Jan gave back $3.12. For the week, Jan feeders dropped $1.05. USDA mentioned the week’s bulk price was mostly $150 in the South and $153 in the North. The CME Feeder Cattle Index was $175.46 on 11/10, down by another 5 cents.    

Wholesale Boxed Beef prices were weaker in the PM report but the Chc/Sel spread tightened to $23.68 as Choice boxes were down by $4.33 to Select’s $1.56 drop. lower in the AM report with a $3.72 drop in Choice and a $1.64 drop for Select. USDA estimated the week’s FI cattle slaughter at 671k head through Saturday. That set the yearly total as 29.378m head – a 1.6% increase from the same week last year.  

Dec 22 Cattle  closed at $151.525, down $1.550,

Feb 23 Cattle  closed at $153.250, down $1.775,

Apr 23 Cattle  closed at $157.050, down $1.450,

Nov 22 Feeder Cattle  closed at $176.950, down $1.675

Jan 23 Feeder Cattle  closed at $178.575, down $3.125