Cattle started the Thursday session weaker, but most contracts rallied to end the day in the black. Feeders were mixed with a 5c loss in May and a 57c loss for August, to the 87c gain for March. The fat cattle ended the day within a dime of the high, closing up by as much as $1.60 across the front months. CME had 16 deliveries issued (and being retendered) vs the Feb contract, the oldest remaining long was dated 12/28. USDA confirmed cash trade on Thursday from $178 to $183, citing most sales $2.50 lower near $180. The CME Feeder Cattle Index for 2/12 was $244.93, down by $246.66.
Weekly beef export sales were shown at 16.6k MT for the week that ended 2/8. That was a new low for the year through the first 6-weeks, but was 1% above the same week last year. Beef exports were listed at 16.4k MT, which was 5% above the same week last year and brought the accumulated export to 85.9k MT (14% ahead of last year’s pace).
Thursday afternoon Boxed Beef quotes were shown as $295.30 for Choice and $287.99 for Select. That was up by $1.30 and by $3.97 respectively. The rib primals were shown as $457.25 and as $417.49 respectively. USDA estimated the week-to-date cattle slaughter at 486k head through Thursday. That is down 15k head from last week and 10k head from the same week last year.
Feb 24 Cattle closed at $183.400, up by $1.000,
April 24 Cattle closed at $185.600, up by $1.600,
Jun 24 Cattle closed at $181.870, up by $0.750,
Mar 24 Feeder Cattle closed at $247.100, up by $0.875
April 24 Feeder Cattle closed at $250.225, up by $0.625
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