Front month live cattle futures are up 7 to 35 cents through USDA reported some moderate Friday action in the North mostly at $157. The week’s cash trade was mostly $155 in the South and $157 in the North. The 12/01 CME Feeder Cattle Index was $179.03, up by 63 cents.
Wholesale Boxed Beef prices were lower this morning with Choice down by $2.69 and Select $1.47 weaker. The Chc/Sel spread was $24.15 in the AM report. USDA’s estimate for the week’s FI cattle slaughter was 663k head through Saturday. That compares to 596k head last week during thanksgiving, and 682k head during the same week last year. The YTD slaughter remains 1.5% ahead of last year’s pace.
Dec 22 Cattle are at $153.400, up $0.050,
Feb 23 Cattle are at $156.225, up $0.350,
April 23 Cattle are at $159.950, up $0.375,
Jan 23 Feeder Cattle are at $184.100, up $1.650
Mar 23 Feeder Cattle are at $186.675, up $1.400
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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