Cattle

Live cattle futures posted triple digit gains, up $1.42 to $1.92. Feeder futures had more dramatic numbers, up $2.07 to $4.20 per hundred. Feedlots succeeded in extracting higher cash prices on Friday, with $123 reported in the south and $195 in the north. High wind chill readings are limiting ability to move cattle in some areas, but that should abate by mid-week. Rates of gain may also be slowed by the cold temps. The CME feeder cattle index on December 29 was $156.02, up a sharp $9.51 from the previous day. Wholesale boxed beef values were sharply higher today as retailers got away from the turkeys and hams and planned some beef features. Choice boxes were on average $2.24 higher than Friday, with Select boxes up $3.59 per cwt. The choice/select spread is tightening seasonally and is down to $8.57. Estimated week to date FI cattle slaughter is 116,000 head. That is 3,000 head more than last week, but 14,000 fewer than the same week last year due to smaller numbers on both Monday and Tuesday.

Feb 18 Cattle closed at $123.350, up $1.800,

Apr 18 Cattle closed at $124.100, up $1.675,

Jun 18 Cattle closed at $115.175, up $1.525,

Jan 18 Feeder Cattle closed at $149.525, up $3.525

Mar 18 Feeder Cattle closed at $146.875, up $4.200

Apr 18 Feeder Cattle closed at $146.925, up $3.850




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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