Thursday’s cattle market ended with triple digit losses in the feeders of as much as 1%. The fats were 0.2% to 0.4% weaker with 35 to 70 cent losses on the day. USDA confirmed 13.4k head of cash cattle trades for Thursday, with the bulk near $172 (up $1-$2 for the week). The CME Feeder Cattle Index for 12/27 was $2.80 weaker on 12/27 to $217.71.
There have still been zero delivery notices against December LC futures, which expire today.
USDA’s Wholesale Boxed Beef quotes were $291.28 in Choice and $259.24 in Select on Thursday afternoon; that was down by another 20c for Choice and was $1.08 weaker for Select. The rib primals were quoted at $556.44 and $403.03 cwt. respectively. USDA estimated FI cattle slaughter for the week through Thursday at 350k head, compared to 380k for the same week last year.
Dec 23 Cattle closed at $171.200, up $0.475,
Feb 24 Cattle closed at $168.925, down $0.350,
Apr 24 Cattle closed at $172.275, down $0.700,
Jan 24 Feeder Cattle closed at $222.475, down $2.000
Mar 24 Feeder Cattle closed at $223.125, down $2.275
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