Cattle Futures Higher on Thursday, Feeders Aided by Corn Pull Back

Live cattle settled 37 to 60 cents higher on Thursday. The double digit weakness in corn helped feeder cattle, which grabbed $1.05 to $1.70 gains. USDA has seen cash trade from $134 to $138 for the week calling the bulk near $136 for the South. Northern dressed trade has stayed mostly near $218 this week. The CME Feeder Cattle Index was down another 20 cents on 1/12 to $162.01.   

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. 

Wholesale Boxed Beef prices were higher again on Thursday, with Choice up $2.93 and Select $1.78 stronger. USDA estimates the week’s FI cattle slaughter at 455,000 head through Thursday, that is 22,000 head below last year’s pace. 

Feb 22 Cattle  closed at $137.000, up $0.425,

Jun 22 Cattle  closed at $136.850, up $0.600,

Jan 22 Feeder Cattle  closed at $162.925, up $1.050

Mar 22 Feeder Cattle  closed at $166.725, up $1.700