Cattle Rallying Triple Digits

Front month fat cattle futures are trading higher through midday, with triple digit gains in the summer contracts. USDA has the bulk of cash prices at $136 for the week, though a few traded hands from $137-$138. Feeder cattle futures are working 42 to 87 cents higher through midday. The CME Feeder Cattle Index for 1/26 was $159.05, down by another 45 cents. 

Wholesale Boxed Beef prices were higher Friday morning, with Choice up by $1.54 to $290.65 and Select $3.90 stronger at $283. 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  are at $138.725, up $0.900,

Jun 22 Cattle  are at $137.900, up $1.200,

Mar 22 Feeder Cattle  are at $160.250, up $0.750

Apr 22 Feeder Cattle  are at $165.725, up $0.625