Cattle Futures Mark Time, Maintain Small Premium to Cash

At the Thursday close, live cattle futures were 22 to 50 cents in the red. The bonus Thursday auction from Central Stockyards had 489 head sold of the 2,686 head listed with $136 as the average price. A pen of higher graded heifers were bid up to $137, but most bids were capped at $136.50. Outside of the FCE, USDA reported cash sales for the week mostly at $136, with a few higher graded fats trading hands at $138. Feeder cattle futures fell $0.80 to $1.30 on Thursday with Jan rolling off the board at $158.92 to be settled against the index tomorrow. The CME Feeder Cattle Index for 1/26 was $159.05, down by another 45 cents. 

Export Sales data from the week that ended 1/20 showed 14,273 MT of beef was booked. That was up 11% wk/wk, but was just half of the same week last year. 

Wholesale Boxed Beef prices were quoted $0.35 weaker in Choice and $0.62 weaker in Select.  USDA estimated FI cattle slaughter for the week through Thursday at 469,000 head. That is 8k more on the week and trails the same week last year by 5,000 head. 

Feb 22 Cattle  closed at $137.825, down $0.225,

Jun 22 Cattle  closed at $136.700, down $0.350,

Jan 22 Feeder Cattle  closed at $158.925, up $0.200

Mar 22 Feeder Cattle  closed at $159.500, down $1.300