Front month fat cattle futures were 32 to 82 cents stronger on Tuesday. Feeders were mixed with Jan and Mar down by as much as 20c while the deferred months strengthened by 25 to 55 cents. There were no cash cattle sales confirmed for Monday or Tuesday. The weekly OKC Feeder Auction review showed 14.3k head sold were mostly $3-8 lower from the last sale the week of 12/19. The CME Feeder Cattle Index was $227.69 on 1/8, which was a $1.33 drop.
Official Census November beef exports totaled just 229.3 million lbs, an 8-year low for the month. That was a drop of 16.9% from last year and was 5.1% lower than the October total. The year’s total is the lowest since 2020 with 2.785 billion shipped for the year through Nov.
USDA’s Wholesale Boxed Beef prices recovered on Tuesday with Choice up by $1.33 and Select by $3.47. FI cattle slaughter was reported at 94k head for Tuesday, setting the weekly total to 198k head. That is 57k head behind the same week last year.
Feb 24 Cattle closed at $170.775, up $0.825,
Apr 24 Cattle closed at $173.600, up $0.575,
Jun 24 Cattle closed at $170.750, up $0.400,
Jan 24 Feeder Cattle closed at $223.775, down $0.100
Mar 24 Feeder Cattle closed at $224.875, down $0.200
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