Live cattle futures are showing strong trade on Thursday, with most nearby contracts higher by triple digits. Feeder cattle futures are also in the green at midday, with nearby Jan up $1.025. The CME feeder cattle index on December 26 was down 36 cents to $148.36. Wholesale boxed beef values were mixed on Thursday morning. Choice was up 15 cents at $201.75, with select down 26 cents at $190.57. Estimated FI cattle slaughter was 209,000 head through Wednesday. That is 29,000 head fewer than the same week last year. Cash trade has been slow to develop this week, but could be seen as higher than last week’s $120, with the soon to expire Dec contract currently at $124.10.

Dec 17 Cattle are at $124.100, up $2.075,

Feb 18 Cattle are at $122.225, up $1.225,

Apr 18 Cattle are at $122.925, up $1.225,

Jan 18 Feeder Cattle are at $146.200, up $1.025

Mar 18 Feeder Cattle are at $142.675, up $0.950

Apr 18 Feeder Cattle are at $143.250, up $0.950

Market Commentary provided by:

Brugler Marketing & Management LLC
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