Cattle Collapsing on Friday

Live cattle futures are down $4.25 to $4.85 lower so far on Friday. Cash trade saw some Thursday sales in the north at $232-235. The Friday morning Fed Cattle Exchange online auction showed sales of $232 on 298 of the 974 head offered. Feeder cattle futures are back down $7.15 to $8.75 at midday, giving back much of the strength from this week. The CME Feeder Cattle Index was up 27 cents to $369.42 on January 13.  The markets will be off on Monday for the Martin Luther King Jr. Day holiday. 

USDA’s APHIS website showed several new cases of New World Screwworm in Mexico over the last week, including 6 new cases in Tamaulipas, a bordering state to the US. Active cases in that state are up to 8. 

USDA Wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel spread widening back out to $1.61. Choice boxes were up $1.14 to $361.91, while Select was 59 cents higher at $360.30. Thursday’s USDA federally inspected cattle slaughter was estimated at 117,000 head, taking the week to date total to 469,000. That was 4,000 head above last week and 15,813 shy of the same week last year. 

Feb 26 Live Cattle  are at $231.800, down $4.250,

Apr 26 Live Cattle  are at $233.575, down $4.850,

Jun 26 Live Cattle  are at $229.225, down $4.675,

Jan 26 Feeder Cattle  are at $361.250, down $7.175

Mar 26 Feeder Cattle  are at $355.900, down $8.650

Apr 26 Feeder Cattle  are at $354.300, down $8.625