Live cattle futures are mixed at midday, with nearby Feb down a nickel and back months higher. Feeder cattle futures are also mixed with front months 22.5-65 cents lower. The CME feeder cattle index was down 17 cents on February 5 at $147.95. Wholesale boxed beef values were lower on Wednesday morning. Choice boxes were up $1.02 at $209.45, with Select boxes 78 cents higher at $203.51. Estimated FI week to date cattle slaughter was 230,000 head through Tuesday. That was down 4,000 from the previous week but 8,000 head larger than the same week last year. This morning’s FCE online auction saw 148 of the 829 head sold at an average price of $126. US export data shows 260.83 million pounds of beef was exported during December. That was slightly larger than November and the fifth straight monthly record, 2.5% above December 2016. Total exports in 2017 were 2.862 billion pounds, an all time yearly record and up 12.2% from 2016.

Feb 18 Cattle are at $125.575, down $0.050,

Apr 18 Cattle are at $123.850, down $0.725,

Jun 18 Cattle are at $115.500, down $0.325,

Mar 18 Feeder Cattle are at $148.175, down $0.550

Apr 18 Feeder Cattle are at $148.775, down $0.650

May 18 Feeder Cattle are at $148.900, down $0.225

Market Commentary provided by:

Brugler Marketing & Management LLC
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