Live cattle futures settled $.32 to $1.55 lower led by the expiring December contract as it converged with the presumed cash market. Feeder futures were 40 to 45 cents higher. The CME feeder cattle index on December 28 was up 63 to $146.51. Wholesale boxed beef values were higher for both the day and the week. Choice boxes were 62 cents on the day and $3.34/cwt for the week. Select boxes were up $2.07 on Friday and up $5.10 for the full week. Estimated weekly FI cattle slaughter was 502,000 head. That is 13,000 head fewer than the same week last year. Cash trade was slow to develop this week, with limited trade reported at $193 on Friday morning. There have still been zero deliveries against December futures, with the oldest long dating back to November 1. The USDA weekly Export Sales report showed 2017 beef export sales of 9,100 MT (to be shipped by December 31), with 9,100 MT sold for 2018.

Dec 17 Cattle closed at $123.000, down $1.550,

Feb 18 Cattle closed at $121.550, down $0.700,

Apr 18 Cattle closed at $122.425, down $0.325,

Jan 18 Feeder Cattle closed at $146.000, up $0.400

Mar 18 Feeder Cattle closed at $142.675, up $0.450

Apr 18 Feeder Cattle closed at $143.075, up $0.400

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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