Cattle Rallying Ahead of Cattle on Feed Report as Cash Drives Strength

Live cattle futures are up $1.70 to $2.42 so far on Friday. Cash trade has seen a few cattle exchange hands at $233-234 live, with $365 dressed. The Wednesday Fed Cattle Exchange online auction showed sales on 494 the 1,228 head at $234-236.50 and $365 dressed. Feeder cattle futures are 57 cents to $1.575 in the green. The CME Feeder Cattle Index was down $2.18 to $365.23 on January 21.

Beef export sales in the week ending on January 15 were tallied at 15,488 MT, according to USDA this morning. Export shipments were 15,855 MT in that week.

The monthly Cattle on Feed report will be out this afternoon, with traders looking for December placements down 6.5% and marketing up 1.5% yr/yr. January 1 on feed inventory is seen down 3.2%.

The weekly update to the APHIS website on the current state of the screwworm on Thursday showed Tamaulipas, a state bordering the US, with 13 active cases of screwworm as of January 20. That was up 4 cases from the week prior. 

USDA’s wholesale Boxed Beef report from Friday morning were mixed, with the Chc/Sel spread widening to $7.40. Choice boxes were up $1.25 to $368.70, while Select was 43 cents lower at $361.30. Thursday’s USDA federally inspected cattle slaughter was estimated at 114,000 head, with the weekly total at 447,000. That was 32,000 head below last week and 33,988 head shy of the same week last year. 

Feb 26 Live Cattle  are at $234.800, up $2.425,

Apr 26 Live Cattle  are at $237.025, up $2.200,

Jun 26 Live Cattle  are at $232.600, up $1.700,

Jan 26 Feeder Cattle  are at $365.300, up $1.575

Mar 26 Feeder Cattle  are at $359.925, up $0.650

Apr 26 Feeder Cattle  are at $358.525, up $0.575