Live Cattle Market Rallying

Fat cattle futures are up triple digits at midday, with April leading the way. The weekly FCE auction sold 197 of the 1,759 head listed. The single TX pen went for $138.25, while most other feedlots were seeking $139+. Bids were mostly in the $137-$138 range. USDA reported light cash trade in the North from $137 - $141, though it was not enough for a market test. Feeder cattle futures are also trading higher, gaining $1.60 to $3.02 so far for Wednesday. The CME Feeder Cattle Index was back up by 33 cents on 1/31 to $158.77. 

Wholesale Boxed Beef prices were weaker again on Wednesday morning. Choice boxes were $1.68 lower to $283.76, while Select boxes were down 16 cents. USDA estimates Tuesday’s FI cattle slaughter at 121k head. That has the WTD kill at 241k head, or 8k more than last week and 7k more than the same week last year. 

Feb 22 Cattle  are at $141.300, up $1.000,

Jun 22 Cattle  are at $141.150, up $1.175,

Mar 22 Feeder Cattle  are at $166.725, up $3.025

Apr 22 Feeder Cattle  are at $171.575, up $2.425