Cattle Break Even to In The Black for the Week

Front month feeder cattle futures rallied 0.96% to 1.4% on the day, leaving the Jan contract at a net $2.17 gain for the week thus far. Live cattle also traded higher, gaining 27 to 87 cents on the day. Feb fats sit with a 55 cent gain for the week to date. Central Stockyard’s FCE had 1,506 head listed with no sales between $155 bids and $155/156 asks. USDA confirmed some light $155 trade in the South on Wednesday, with Northern deals from $157-158 (steady to +$3) and $245 in the beef. The 11/29 CME Feeder Cattle Index was $178.40, down by 45 cents. 

Wholesale Boxed Beef prices were mixed in the PM report with Choice 14 cents stronger and Select 81 cents weaker. USDA has the week to date cattle slaughter estimated at 384k head. That is down 2,000 from last week but up from 369k during the same week last year. 

Dec 22 Cattle  closed at $153.075, up $0.400,

Feb 23 Cattle  closed at $155.675, up $0.875,

Apr 23 Cattle  closed at $159.275, up $0.700,

Jan 23 Feeder Cattle  closed at $180.475, up $2.475

Mar 23 Feeder Cattle  closed at $183.450, up $2.275