Cattle Mixed Mostly Weaker

Front month fat cattle futures are 17 to 45 cents in the red through midday, save for a nickel gain in the Feb contract. Cash trade remains mostly unestablished so far for the week, with just limited activity in the WCB yesterday reported at $136. Feeder cattle futures are trading red as well, giving back $1.52 to $2.17 so far. The Jan contract is 20 cents weaker on just 1,639 contracts of OI ahead of expiration. The CME Feeder Cattle Index was down another 64 cents on 1/21 to $160.46. 

Wholesale Boxed Beef prices were weaker this morning as Choice dropped 16 cents and Select fell by 14 cents. 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  are at $136.375, up $0.050,

Jun 22 Cattle  are at $135.275, down $0.300,

Jan 22 Feeder Cattle  are at $158.400, down $0.075

Mar 22 Feeder Cattle  are at $159.100, down $2.150