Front month live cattle futures are trading $1 to $1..70 higher at midday. Central Stockyards’ weekly FCE auction resulted in no sales for the 3,580 head listed. Bids were capped at $137-$138. USDA reported some cash trade from $135.50 to $137 for Tuesday, with business in NE and KS. Feeder cattle prices are up 2 to 12 cents at midday save for a drop in the Jan as OI declines ahead of expiration. The CME Feeder Cattle Index was down another 41 cents on 1/17 to $161.30.
Wholesale Boxed Beef prices continue higher through Wednesday morning with Choice another $1.56 higher to $291.05 and Select up by $1.32 to $279.71. USDA estimated Monday’s federally inspected cattle slaughter at 117,000 head for Tuesday. Monday’s 113k head has the week’s total at 230,000. That compares to 227k head last week and matches the same week last year.
Feb 22 Cattle are at $138.950, up $1.275,
Jun 22 Cattle are at $138.550, up $1.475,
Jan 22 Feeder Cattle are at $161.050, down $0.400
Mar 22 Feeder Cattle are at $165.625, up $0.200
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