Cattle Market Firm for Midday

Live cattle futures are 7 to 22 cents in the black so far for the Thursday session. Feeder cattle are trading with 32 to 95 cent gains. USDA reported cash sales mostly at $135 in the South with the full range for the week between $134 to $138. The CME Feeder Cattle Index was down 3 cents on 1/11 to $162.21.   

Beef export sales were 9,704 MT for the first week of the new year. 2021 shipments ended at a record 925,127 MT. Shipments so far this year are at 8,626 MT through the first week of data. 

Yesterday, USDA increased ’21 beef production by 55m lbs to 27.95 billion, while bumping ’22 165m to 27.165b. Wholesale Boxed Beef prices were higher this morning with a $1.88 bump in Choice and a $1.35 stronger Select price. USDA estimates the week’s FI cattle slaughter at 341,000 head through Wednesday. That trails last year’s pace by 9k head. 

Feb 22 Cattle  are at $136.750, up $0.175,

Jun 22 Cattle  are at $136.525, up $0.275,

Jan 22 Feeder Cattle  are at $162.125, up $0.250

Mar 22 Feeder Cattle  are at $165.850, up $0.825