Cattle Slid into Thanksgiving

Cattle futures settled with $0.42 to $1 losses ahead of the Thanksgiving break. Futures trading will resume with a normal start and early close today. Much of the cash trade for the week was concluded on Wednesday. USDA confirmed 55k head of cash cattle were sold in a push of business before the holiday. TX sales were $4-5 higher mostly near $154-155, KS was shown $3-5 higher from $154-155, NE sales were $156-158 and dressed sales were mostly near $245 on Wednesday. The FCE auction for Wednesday saw 459 of the 1,327 head listed sold at $155. 

Feeders ended the Wednesday market with triple digit losses of as much as $2.42. The 11/21 Feeder Cattle Index from CME was flat at $174.64. 

Japan announced they are raising the volume of U.S. sourced beef imports by 4,840 MT before tariffs – as outlined in the USJTA. 

Wholesale Boxed Beef prices were up by $4.07 in Choice and $0.85 in Select on Wednesday. USDA estimated the week’s federally inspected cattle slaughter through Wednesday at 386k head. 

Dec 22 Cattle  closed at $153.350, down $0.450,

Feb 23 Cattle  closed at $155.425, down $1.000,

Apr 23 Cattle  closed at $159.125, down $0.775,

Jan 23 Feeder Cattle  closed at $179.250, down $2.425

Mar 23 Feeder Cattle  closed at $182.350, down $2.225