Live cattle futures were held up by the rallying cash market, with contracts up $3.50 to $4.40 in the front months. February was up $6.35 on the week. Cash trade picked up this week, as trade settled in at $232 across the country, up $2-3 from last week. Feeder cattle futures rallied $5.85 to $8.05 in the front months on Friday, to start the new year off. January was up $9.925 this week. The CME Feeder Cattle Index was up $1.57 to $350.22 on January 1.
USDA Wholesale Boxed Beef prices were back higher in the Friday afternoon report, with the Chc/Sel spread at just $3.05. Choice boxes were up $2.52 to $349.97, while Select was $4.54 higher at $346.92. This week’s USDA federally inspected cattle slaughter was estimated at 474,000 head. That was a 48,000 head increase from last week but 30,893 head below last year.
Feb 26 Live Cattle closed at $236.000, up $4.400,
Apr 26 Live Cattle closed at $235.975, up $3.775,
Jun 26 Live Cattle closed at $230.350, up $3.575,
Jan 26 Feeder Cattle closed at $356.100, up $5.850,
Mar 26 Feeder Cattle closed at $352.950, up $7.625,
Apr 26 Feeder Cattle closed at $352.250, up $8.025,
