Live cattle futures closed mixed on Thursday, as nearby Feb was up 17.5 cents and back months were lower. Feeder cattle futures were steady to $1.05 in the red on the day. The CME feeder cattle index was down 8 cents on February 7 at $148.02. Wholesale boxed beef values were mixed on Thursday afternoon. Choice boxes were down 84 cents at $208.53, with Select boxes 65 cents higher at $203.79. Estimated FI week to date cattle slaughter was 464,000 head through Thursday. That was down 5,000 from the previous week but 15,000 head larger than the same week last year. The USDA reported beef export sales at 18,508 MT, which was a drop of 26.5% from last week but 16.1% larger than last year. Estimated beef production for 2018 was trimmed 35 million pounds to 27.725 billion pounds as lower 3 and 4 quarter production ideas offset increases for 1Q and 2Q.

Feb 18 Cattle closed at $125.775, up $0.175,

Apr 18 Cattle closed at $123.725, down $0.250,

Jun 18 Cattle closed at $115.525, down $0.200,

Mar 18 Feeder Cattle closed at $147.250, down $1.050

Apr 18 Feeder Cattle closed at $148.650, down $0.700

May 18 Feeder Cattle closed at $148.925, down $0.425

Market Commentary provided by:

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