Live cattle futures are trading with $1.52 to $2.10 gains at midday. December expires on Wednesday. Cash trade last week was reported at $229-230. This week has been quiet so far, with the Tuesday morning Fed Cattle Exchange showed dressed sales of $355 on 40 of the 1,278 head offered, with bids of $225. Feeder cattle futures are up another $2.55 to $2.90 at Tuesday’s midday. 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 Tuesday AM report, with the Chc/Sel spread narrowing to $2.83. Choice boxes were down another 82 cents to $348.51, while Select was 6 cents higher at $345.68. 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 are at $231.000, up $2.100,
Feb 26 Live Cattle are at $230.500, up $1.525,
Apr 26 Live Cattle are at $231.150, up $1.625,
Jan 26 Feeder Cattle are at $349.550, up $2.550
Mar 26 Feeder Cattle are at $344.575, up $2.900
Apr 26 Feeder Cattle are at $343.300, up $2.875
