Midday cattle futures are trading $1.30 to $2.05 in the black with a triple digit rally through midday. Front month feeders are also up by as much as $2.97, leading the March contract to the 38.2% retracement of the fall board collapse. USDA had no confirmed cash business to report for the week through Wednesday. Cash trade remained light last week, with some sales near $172-$173. The CME Feeder Cattle Index was 56 cents lower on 1/16 to $225.87.
The Wholesale Boxed Beef prices were mixed on Thursday morning with a $1.54 weaker Choice quote and a 23c stronger Select quote. That had the Chc/Sel spread at $13.66. USDA estimated FI cattle slaughter for the week at 341k head, compared to 304k last week and 375k during the same week last year.
Feb 24 Cattle are at $174.600, up $1.500,
April 24 Cattle are at $177.300, up $1.675,
Jun 24 Cattle are at $174.225, up $1.425,
Cash Cattle Index was $173.000, from $173.00 last week
Jan 24 Feeder Cattle are at $231.100, up $2.675
Mar 24 Feeder Cattle are at $232.650, up $2.875
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