Live cattle prices rallied $0.87 to $1.50 during the Wednesday session. Central Stockyards’ weekly FCE auction sold none of the 3,580 head listed. Bids were capped at $137-$138. USDA had cash sales activity from $136 to $137 on Wednesday, matching earlier sales for the week. The bulk of dressed business has been mostly $218. Feeder futures closed a nickel in the red for the Jan contract, while the other front months were 20 to 87 cents higher. The CME Feeder Cattle Index was down another 12 cents on 1/18 to $161.24.
Wholesale Boxed Beef prices were quoted $2.11 higher for Choice and $2.04 stronger for Select. USDA estimated FI cattle slaughter at 345k head for the week through Wednesday. That is 4k above last week but 6,000 head below the same week last year.
Feb 22 Cattle closed at $138.550, up $0.875,
Jun 22 Cattle closed at $138.475, up $1.400,
Jan 22 Feeder Cattle closed at $161.400, down $0.050
Mar 22 Feeder Cattle closed at $165.625, up $0.200
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