Cattle Mostly Higher at Midday

Front month live cattle futures are working 7 to 70 cents higher, though the deferred months are down 10 to 25 cents at midday. The special Thursday auction from Central Stockyards sold 465 of the 1,759 head listed for $140. There were also private reports of $140 bids in TX and $140 trade in KS. Feeder cattle futures are trading mostly higher, with gains of 35 to 67 cents in the front months. The August feeders are 7 cents in the red for midday. The CME Feeder Cattle Index for 2/1 was 16 cents higher at $158.93.

Weekly Export Sales data had beef bookings from the week that ended 1/27 at 20,122 MT. Japan was the week’s top buyer with over half of the total. Beef exports from the same week were listed as 16,899 MT, bringing the year’s total to 53,885 MT through the first 4 weeks.

Wholesale Boxed Beef prices continued lower on Thursday morning with a $1.09 drop in Choice and a $2.43 dip for Select. USDA estimated the WTD cattle slaughter under federal inspection at 362k head through Wednesday. That was 11k head more than last week’s pace and up 8k head yr/yr. 

Feb 22 Cattle  are at $141.875, up $0.750,

Jun 22 Cattle  are at $141.650, up $0.025,

Mar 22 Feeder Cattle  are at $167.350, up $0.475

Apr 22 Feeder Cattle  are at $172.425, up $0.600