Live cattle futures saw sharp gains in most nearby contracts on Thursday, with nearby Dec up $2.525 ahead of Friday’s expiration. Feeder cattle futures were also higher, with most contracts up 177.5 to 52.5 cents. The CME feeder cattle index on December 27 was down $2.48 to $145.88. Wholesale boxed beef values were higher on Thursday afternoon. Choice was up 68 cents at $202.28, with select 49 cents higher at $190.91. Estimated week to date FI cattle slaughter was 328,000 head through Thursday. That is 26,000 head fewer than the same week last year. Cash trade has been slow to develop this week, with bids of $118 and asks of $125 still far apart.

Dec 17 Cattle closed at $124.550, up $2.525,

Feb 18 Cattle closed at $122.250, up $1.250,

Apr 18 Cattle closed at $122.750, up $1.050,

Jan 18 Feeder Cattle closed at $145.600, up $0.425

Mar 18 Feeder Cattle closed at $142.225, up $0.500

Apr 18 Feeder Cattle closed at $142.675, up $0.375

Market Commentary provided by:

Brugler Marketing & Management LLC
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