With Dec cattle expiring today, the contract is down by $2.25. The other front months are fading 32 to 62 cents through midday, as the feed grain market works higher. USDA reported some light to moderate cash trade on Thursday. In the South, trade went for $157, with $248-$250 for the North’s dressed market. Front month feeder cattle prices are 52 to 97 cents in the red. The CME Feeder Cattle Index was $3.76 stronger to $179.84 on 12/28.Â
Weekly Export Sales data showed 2,346 MT of beef was sold for 2022 delivery during the week that ended 12/22, and 7,154 MT were sold for 2023 delivery. With 2 weeks of reporting left, accumulated beef commitments were 1.021 MMT. Forward sales into 2023 were at 58,043 MT.Â
USDA’s Wholesale Boxed Beef prices were higher for Friday morning with Choice up by $3.19 and Select $1.63 stronger. USDA’s estimate for the weekly cattle slaughter is 262k head through Wednesday.Â
Dec 22 Cattle  are at $156.250, down $2.250,
Feb 23 Cattle  are at $158.325, down $0.525,
April 23 Cattle  are at $162.025, down $0.425,
Jan 23 Feeder Cattle  are at $183.350, down $0.450
Mar 23 Feeder Cattle  are at $185.950, down $0.825
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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