Beef Export Demand Released @ 7:30 (central)

Cattle closed the midweek session with another $0.25 to $1.05 gains across the front months. USDA reported some light $175 cash trade in NE on Wednesday, down $1 from last week and matching the sparse KS and TX business so far this week. The front month feeder cattle futures also bounced through Wednesday, settling another $0.77 to $1.15 higher. CME showed net new buying, though by just 207 contracts on Tuesday. The CME Feeder Cattle Index dropped a sharp $4.71 to $222.25 on 11/28. 

USDA had Wholesale Boxed Beef prices for Wednesday weakened in Choice by $1.14 and in Select by $2.26. The Chc/Sel spread was up to $32.94. The week to date FI cattle slaughter was 373,000 head through Wednesday. That trails last week’s pace by 5k head and the same week last year by 8k. 

Dec 23 Cattle  closed at $171.900, up $0.250,

Feb 24 Cattle  closed at $173.475, up $0.650,

Apr 24 Cattle  closed at $175.925, up $1.050,

Jan 24 Feeder Cattle  closed at $222.200, up $1.150

Mar 24 Feeder Cattle  closed at $224.275, up $0.775