Live cattle futures closed the Thursday session with $0.77 to $1.05 gains, leaving the Feb contract at a net weekly gain of $1.22 so far. Feeders also pushed higher with $1.22 to $1.65 gains on Thursday. Low temps and snow fall have cattle health and transport at the front of market participant minds. USDA had minimal cash action on Wednesday, mostly near $175. The CME Feeder Cattle Index for was $227.75 on 1/10, back down by 66 cents.
Export Sales data showed 12,241 MT of beef was booked during the week that ended 1/4. Japan, South Korea, and China were the top buyers.
USDA’s Wholesale Boxed Beef prices were $2.82 higher in Choice and $3 cwt. stronger in Select on Wednesday afternoon, leaving the Chc/Sel spread at $15.95. Federally inspected cattle slaughter for the week was listed at 424k head through Thursday, down by 78k head from the same week last year.
Feb 24 Cattle closed at $171.800, up $1.050,
Apr 24 Cattle closed at $174.575, up $0.900,
Jun 24 Cattle closed at $171.975, up $0.875,
Jan 24 Feeder Cattle closed at $226.275, up $1.650
Mar 24 Feeder Cattle closed at $227.400, up $1.275
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