Cattle Close Mixed Mostly Lower

Front month cattle futures weakened 15 to 25 cents further on Thursday. Back month cattle futures closed 15 to 62 cents in the black, adding more premium to the fall months. October closed above $120, which is near a $10 premium to the spot market. Feeder futures came back from triple digit losses, but still closed down by 47 to 97 cents. Some were negative $60/head as recently as early December. The CME Feeder Cattle Index was down 66 cents to $135.49 on 1/13. USDA reported Northern cash deals from $106 - $109 for Thursday, in line with the bulk of the week’s trade. The bulk of Southern cash deals was near $111 this week. The week’s weekly beef export bookings were reported at 16,835 MT by USDA. Wholesale Boxed Beef prices were higher, widening the spread to $12.30. Choice boxes were up $2.37, and Select boxes are back above $200 to $201.07 on a $2.01 bump. USDA estimates WTD cattle slaughter under federal inspection at 469,000 head through Thursday. That is up 3,000 wk/wk, but down from 493k head the same week last year.

Feb 21 Cattle closed at $112.075, down $0.175,
Apr 21 Cattle closed at $117.225, down $0.250,
Jun 21 Cattle closed at $114.950, down $0.150,
Jan 21 Feeder Cattle closed at $132.600, down $0.975
Mar 21 Feeder Cattle closed at $133.375, down $0.950
Apr 21 Feeder Cattle closed at $136.000, down $0.750

--- provided by Brugler Marketing & Management




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