Cattle Market Stabilizes, Awaits Cash Market Indications

The Feb and April cattle futures ended with 77 cent and 2 cent gains respectively on Tuesday while later delivery months weakened by 15 to 30 cents. No trend has been established for cash trade this week, with limited activity in the WCB at $136. Feeder cattle futures were also red, closing off their intra day lows with $1.12 to $1.40 losses on Tuesday. The CME Feeder Cattle Index for 1/24 was $159.77, down by another 69 cents. 

Tuesday’s afternoon Wholesale Boxed Beef prices were lower. Choice dropped $1.12 to $292.38 cwt. and Select was down $1.47 to $283.32. Choice rib primals were quoted at $413.60, while Select ribs were $387.44 cwt. USDA estimated FI cattle slaughter at 118k head for Tuesday. That has the WTD kill at 233k head, matching the same week last year. 

Feb 22 Cattle  closed at $137.100, up $0.775,

Jun 22 Cattle  closed at $135.425, down $0.150,

Jan 22 Feeder Cattle  closed at $158.550, up $0.075

Mar 22 Feeder Cattle  closed at $159.850, down $1.400