Cattle Futures Lower in Aftermath of COF Report, Cold Storage Stocks Rise

Fat cattle futures were down $0.87 to $2.02 on Monday as they reacted to the Cattle on Feed data. April was the weakest on the day, though it closed more than $1 off the low and kept a $3.75 premium to Feb. Cash trade was mostly quiet for Monday save for some limited WCB $136 activity. Feeder cattle futures ended the Monday session with $1.60 to $2.05 losses in the front months. The CME Feeder Cattle Index was down another 10 cents on 1/20 to $161.10. 

The monthly USDA Cold Storage report issued after the close showed beef stocks were 503.792m lbs in December. That was up from 490.4 million in November, but down 6% yr/yr. 

Wholesale Boxed Beef prices were higher for Monday with Choice up $1.09 and Select $2.46 stronger. For Choice that was a $1.09 boost as Select was up by $2.46. USDA estimated FI cattle slaughter at 115k head for Monday. That was 2,000 head more than last week but 1,000 head lighter than the same Monday last year. 

Feb 22 Cattle  closed at $136.325, down $1.600,

Jun 22 Cattle  closed at $135.575, down $1.725,

Jan 22 Feeder Cattle  closed at $158.475, down $1.800

Mar 22 Feeder Cattle  closed at $161.250, down $2.050