Cattle Finishing Week Mostly Higher

Live cattle futures are looking to conclude their 6th consecutive gain week with another 20 to 30c gains on Friday. Feb fats are up by a net $1.60 for the week. Feeders are fading though midday, though with the 32 to 75 cent losses, the nearbys are still up by +$4 for the week. USDA confirmed Thursday cash business from $173 to $178, citing most action was ~$3 higher near $178. The CME Feeder Cattle Index increased $1.63 on 1/31 to $237.95.

USDA’s FAS reported 16.7k MT of beef was sold for export during the week that ended 1/25. Beef shipments were 15.4k MT for the week. 

The  semi-annual Cattle Inventory report had 87.157m head of cattle counted as of Jan 1. That was a 2.6% decrease yr/yr compared to the expected 1.3% drop in inventory, and was the smallest national total cattle herd since 1957. 

USDA’s Wholesale Boxed Beef prices had the Feb 1 quotes at $294.94 and $283.25 cwt. for Choice and Select respectively. For choice that was up 40c on the day, while Select was another 92c weaker. USDA reported FI cattle slaughter at 505k head for the week through Thursday. That’s up 13k head from last week, and is 9k head more than the same week last year.  

Feb 24 Cattle  are at $180.025, up $0.275,

April 24 Cattle  are at $183.475, up $0.300,

Jun 24 Cattle  are at $181.300, up $0.175,

Cash Cattle Index was $175.000, from $175.00 last week

Mar 24 Feeder Cattle  are at $244.575, down $0.300

April 24 Feeder Cattle  are at $249.875, down $0.650

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