Live cattle futures are posting strong gains on Wednesday, with most contracts $1.50 to $2.70 higher. Feeder cattle futures are also $1.30 to $2.20 in the green. The CME feeder cattle index on January 15 was $145.38, down 46 cents from the previous day. Wholesale boxed beef values were lower again on Wednesday morning. Choice boxes were 7 cents lower at $205.51, with Select boxes down 33 cents per cwt at $199.56. Estimated week to date FI cattle slaughter was 236,000 head through Tuesday. That is even with last week. This morning’s FCE online auction saw onle 108 of the 304 head sold at a price of $119.75, with offers of $118 and $119.50 passed by feedlots. Cabs bids around the country so far are still around $118.

Feb 18 Cattle are at $120.800, up $2.700,

Apr 18 Cattle are at $122.525, up $2.150,

Jun 18 Cattle are at $114.250, up $1.900,

Jan 18 Feeder Cattle are at $147.800, up $2.200

Mar 18 Feeder Cattle are at $145.775, up $1.850

Apr 18 Feeder Cattle are at $145.925, up $1.850

Market Commentary provided by:

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