Live cattle futures closed the Christmas Eve session with contracts down $1.30 to $1.50, as December settled with a 12 cent loss. Cash trade picked up ahead of the holiday, with a few $229-230 sales reported this week, steady to $2 higher than last week. The Wednesday Fed Cattle Exchange showed sales on 827 of the 1,734 head offered, at $229-230, with a lot of 40 head sold at $355 dressed. Feeder cattle futures were up a dime in nearby January contracts, with others steady to 25 cents lower. CME’s Feeder Cattle Index was up another $1.32 to $354.40 on December 23. The CME will open back up on Friday per normal, with no trade on Thursday.
NASS Cold Storage data from Tuesday afternoon showed 425.5 million lbs of beef stocks at the end of November, which was down 3.42% from last year and the smallest November total since 2014.
USDA Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel spread widening back out to $8.87. Choice boxes were down $1.15 to $354.62, while Select was $3.84 lower at $345.74. USDA federally inspected cattle slaughter was estimated at 43,000 head for Wednesday, with the week to date total at 287,000 head. That was 62,000 head below last week, but well above the same week last year.
Dec 25 Live Cattle closed at $228.700, down $0.125,
Feb 26 Live Cattle closed at $228.550, down $1.450,
Apr 26 Live Cattle closed at $228.725, down $1.300,
Jan 26 Feeder Cattle closed at $344.725, up $0.100,
Mar 26 Feeder Cattle closed at $338.800, down $0.200,
Apr 26 Feeder Cattle closed at $337.500, down $0.175,
