Live cattle futures closed Friday with some strength, as contracts were up 90 cents to $1.12. February was down $1.15 this week. Cash trade picked up ahead of the holiday, with $229-230 sales reported, steady to $2 higher than last week. Feeder cattle futures were up $1.45 to $1.75 to close the week, with January 57 cents higher from last Friday. CME’s Feeder Cattle Index was back down $4.69 to $349.32 on December 25.
USDA Wholesale Boxed Beef prices were lower in the Friday afternoon report, with the Chc/Sel spread narrowing to $7.41. Choice boxes were down $3.41 to $351.21, while Select was $1.95 lower at $343.8025. USDA federally inspected cattle slaughter was estimated at 429,000 head for this week. That was well below last week, but 4,042 head shy of the same week last year.
Dec 25 Live Cattle closed at $229.825, up $1.125,
Feb 26 Live Cattle closed at $229.650, up $1.100,
Apr 26 Live Cattle closed at $229.700, up $0.975,
Jan 26 Feeder Cattle closed at $346.175, up $1.450,
Mar 26 Feeder Cattle closed at $340.425, up $1.625,
Apr 26 Feeder Cattle closed at $339.200, up $1.700,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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