Cattle

Live cattle futures finished Wednesday with nearby Feb just off the limit, up $2.875. Feeder cattle futures were also sharply higher, with gains of $1.725 to $2.275. The CME feeder cattle index on January 16 was $145.01, down 37 cents from the previous day. Wholesale boxed beef values were down 28 cents in both grades on Wednesday afternoon. Choice boxes were at $205.30, with Select boxes at $199.61. Estimated week to date FI cattle slaughter was 353,000 head through Wednesday. That 1,000 head fewer than last week. This morning’s FCE online auction saw only 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 were still around $118 on Wednesday.

Feb 18 Cattle closed at $120.975, up $2.875,

Apr 18 Cattle closed at $122.775, up $2.400,

Jun 18 Cattle closed at $114.450, up $2.100,

Jan 18 Feeder Cattle closed at $147.875, up $2.275

Mar 18 Feeder Cattle closed at $145.975, up $2.050

Apr 18 Feeder Cattle closed at $146.125, up $2.050




Market Commentary provided by:

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