Live cattle futures are trading mid-range at midday. The midweek board is 35 to 62 cents higher for the front months. Feeder cattle are up by triple digits and ~30 cents off their session highs. March is leading the way with a 0.8% gain so far. There were no cash cattle sales confirmed for Monday or Tuesday. 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 were stronger again on Wednesday morning as Choice was up by $1.79 and Select was $4.11 higher. 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 $171.075, up $0.300,
Apr 24 Cattle closed at $173.900, up $0.300,
Jun 24 Cattle closed at $171.225, up $0.475,
Jan 24 Feeder Cattle closed at $224.850, up $1.075
Mar 24 Feeder Cattle closed at $226.400, up $1.525
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