Live cattle futures are mostly lower in the back months on Friday, as nearby Feb is up a quarter. Feeder cattle futures are down $1.125 to $1.40 in most contracts. The CME feeder cattle index was down 8 cents on February 7 at $148.02. Wholesale boxed beef values were lower on Friday morning. Choice boxes were down $2.03 at $206.50, with Select boxes 76 cents lower at $203.03. The Ch/Se spread had narrowed down to $3.47. Estimated FI week to date cattle slaughter was 464,000 head through Thursday. That was down 5,000 from the previous week but 15,000 head larger than the same week last year. The USDA reported beef exports during the week of 2/1 at 16,049 MT, 4.53% better than the previous week and 17.75% larger than last year. Cash trade is slow to develop this week with packers showing bids of $126 in most regions at midday.

Feb 18 Cattle are at $126.025, up $0.250,

Apr 18 Cattle are at $123.450, down $0.275,

Jun 18 Cattle are at $115.200, down $0.325,

Mar 18 Feeder Cattle are at $145.850, down $1.400

Apr 18 Feeder Cattle are at $147.275, down $1.375

May 18 Feeder Cattle are at $147.800, down $1.125

Market Commentary provided by:

Brugler Marketing & Management LLC
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