Live cattle futures are down $2.20 to $2.35 so far at midday. Cash trade has been quiet so far this week with bids of $232 so far in the South. The Wednesday morning Fed Cattle Exchange online auction showed just 1 lot sold at $360.50 dressed, with bids of $230-232 live. Feeder cattle futures are down $2.80 to $4 so far on Wednesday. The CME Feeder Cattle Index was up another $9.26 to $362.37 on January 5.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel spread widening back out to $1.70. Choice boxes were up $1.22 to $352.47, while Select was 31 cents lower at $350.77. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, with the week to date total at 233,000 head. That was a 7,000 head drop from last week but 9327 head below last year.
Feb 26 Live Cattle are at $234.400, down $2.225,
Apr 26 Live Cattle are at $235.050, down $2.325,
Jun 26 Live Cattle are at $229.825, down $2.250,
Jan 26 Feeder Cattle are at $359.350, down $2.825
Mar 26 Feeder Cattle are at $355.225, down $3.800
Apr 26 Feeder Cattle are at $354.250, down $3.875
