The live cattle futures market ended the day 22c weaker in the August contract and $1.12 lower in the Feb. That spread is now August at an 85 cent premium, from a $1.67 Feb premium at the start of the month. Feeder cattle were higher on the day with gains of as much as 92 cents for the front months. USDA reported minimal cash trading activity so far for the week. The 12/26 CME Feeder Cattle Index was $220.51, up by 52 cents. The OK National Stockyards feeder cattle auctions will resume January 8th.
USDA’s Wholesale Boxed Beef prices were shown at $291.48 for Choice and $260.32 for Select on Wednesday afternoon. That was a $1.83 drop for Choice and was 87 cents weaker for Select. Federally inspected cattle slaughter for the week through Wednesday was estimated at 225k head, compared to 256k head during the same week last year.
Dec 23 Cattle closed at $170.725, up $0.150,
Feb 24 Cattle closed at $169.275, down $1.125,
Apr 24 Cattle closed at $172.975, down $0.475,
Jan 24 Feeder Cattle closed at $224.475, up $0.925
Mar 24 Feeder Cattle closed at $225.400, up $0.825
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