Cattle

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 exports during the week of 2/1 at 16,049 MT, 4.53% better than the previous week and 17.75% larger than last year. Cash trade is slow to develop this week with packers and feedlots still not agreeing to a price as of Thursday.




Market Commentary provided by:

Brugler Marketing & Management LLC
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