The cattle complex is fading into the weekend. Fat cattle futures’ 57 to $1 losses have the front months at a net $2 gain for the week’s move so far. USDA confirmed more cash business near $175 in the North on Thursday, noting that a Southern sales trend remains unestablished. Feeder cattle futures are also $1.27 to $1.52 in the red through Friday’s midday. The March contract is at a net $1.25 gain for the week. The CME Feeder Cattle Index for 1/3 was $228.65, up by $3.60.
The weekly FAS data showed 9.5k MT of beef was booked for export during the week that ended 12/28. Shipments were listed at 17k MT for a yearly total of 803k MT via weekly data.
USDA’s Wholesale Boxed Beef prices were firmer on Friday morning as Choice bounced by $1.98 and Select was up by 29 cents. Federally inspected cattle slaughter for the week through Thursday was 380k head. That is 6k head behind the start to last year.
Feb 24 Cattle are at $170.625, down $0.500,
April 24 Cattle are at $173.525, down $0.775,
Jun 24 Cattle are at $170.575, down $0.975,
Cash Cattle Index was $172.000, from $172.00 last week
Jan 24 Feeder Cattle are at $223.350, down $1.325
Mar 24 Feeder Cattle are at $224.625, down $1.025
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