Live cattle futures were 17 to 92 cents lower on Monday. December expires on Wednesday. OI was down 879 contracts on Monday. Cash trade last week was reported at $229-230. Feeder cattle futures slopped into the close, but still managed to close with gains of 82 cents to $1.25. CME’s Feeder Cattle Index was back up $6.68 to $356.00 on December 26.
USDA Wholesale Boxed Beef prices were mixed in the Monday PM report, with the Chc/Sel spread narrowing to $3.71. Choice boxes were down $1.88 to $349.33, while Select was $1.82 higher at $345.62. Monday’s USDA federally inspected cattle slaughter was estimated at 118,000 head. That was 3,000 head below the week prior and 4,091 head shy of the same week last year.
Dec 25 Live Cattle closed at $228.900, down $0.925,
Feb 26 Live Cattle closed at $228.975, down $0.675,
Apr 26 Live Cattle closed at $229.525, down $0.175,
Jan 26 Feeder Cattle closed at $347.000, up $0.825,
Mar 26 Feeder Cattle closed at $341.675, up $1.250,
Apr 26 Feeder Cattle closed at $340.425, up $1.225,
