Live cattle futures are showing $2.17 to $2.70 gains on Friday. Cash trade got kicked off on Thursday, with a few sales at $228 across the country and $356-358. The Friday Fed Cattle Exchange online auction showed no sales on the 1,708 head listed and bids of $227-228. Feeder cattle futures are up $5.10 to $6.10 so far on Friday. The CME feeder cattle index from December 17 was up 26 cents from the day prior at $350.05.
The December Cattle on Feed report will be released this afternoon, with traders looking for November placements to be down 8% from last year and marketings with a 11.3% drop. December 1 on feed is expected to be 1.6% below last year.
USDA Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel spread widening to $13.35. Choice boxes were up $3.61 to $360.89, while Select was $3.57 lower at $347.54. USDA federally inspected cattle slaughter was estimated at 123,000 head on Thursday, with the weekly total at 472,000 head. That was 12,000 head below last week and 11,643 head shy of the same week last year.
Dec 25 Live Cattle are at $230.675, up $2.250,
Feb 26 Live Cattle are at $231.075, up $2.675,
Apr 26 Live Cattle are at $230.325, up $2.175,
Jan 26 Feeder Cattle are at $346.375, up $6.100
Mar 26 Feeder Cattle are at $340.100, up $5.500
Apr 26 Feeder Cattle are at $338.275, up $5.100
