Live cattle futures were mixed on Friday within 20 cents of UNCH. December futures were down by a net $9.70 for the week, and had given back 50% of the historic rally. Feeders were higher on Friday, having rallied $0.72 to $1.52 on the day. For Jan feeders, that resulted in a net $13 drop for the week. Cash sales for the week were mainly near $181, a $4 drop from last week. The CME Feeder Cattle Index for 11/09 was $235.42 after another $1.59 drop.
Wholesale Boxed Beef prices were mixed on Friday, with Choice increasing $1.04 and Select falling $2. USDA quoted the rib primals at $542.99 and $430.41 respectively. USDA reported the week’s beef output at 514.2 million lbs, down by 2.1% for the week and 8.3% below the same week last year. YTD beef production was tallied at 22.976 billion lbs. Slaughter for the week was listed at 618k head, from 632k last week and 670k during the same week last year. The YTD total trails last year’s pace by 4.7%.
Dec 23 Cattle closed at $174.175, down $0.175,
Feb 24 Cattle closed at $174.650, up $0.175,
Apr 24 Cattle closed at $176.925, down $0.025,
Nov 23 Feeder Cattle closed at $229.725, up $0.725
Jan 24 Feeder Cattle closed at $226.425, up $1.500
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. For more information please view the Barchart Disclosure Policy here.
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