Dec Cattle OI Down to 302 Contracts

Preliminary OI data shows Dec still has 302 contracts open with no deliveries into Friday’s last trade day. Yesterday, Feb and April fats ended the Wednesday session down by 7 and 5 cents respectively after new contract highs yesterday. The other front months went home 27 to 62 cents higher. Feeder cattle ended the session with 5 to 80 cent gains. Central Stockyards is suspending fed cattle exchange auctions until Jan 3rd for the holidays. OKC feeder cattle auctions are also postponed through Jan 9th for the holiday season. USDA had limited cash activity for the WCB on Wednesday, with few traded at $158, but not enough for a market test. Feeder cattle are trading mostly higher so far, with 22 to 57 cent gains. May feeders are in the red by 10 cents at midday. The CME Feeder Cattle Index for 12/27 was back up by 35 cents to $176.08. 

USDA’s Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report. Choice boxes were down 63 cents to $279.41 cwt. with Select $1.64 higher to $247.28 cwt. Choice ribs were quoted at $543.81, to Select’s $360.24. USDA’s estimate for the weekly cattle slaughter is 262k head through Wednesday. 

Dec 22 Cattle  closed at $157.450, up $0.625,

Feb 23 Cattle  closed at $157.800, down $0.075,

Apr 23 Cattle  closed at $161.775, down $0.050,

Jan 23 Feeder Cattle  closed at $183.475, up $0.375

Mar 23 Feeder Cattle  closed at $186.200, up $0.800