Live cattle futures are mixed at midday, with nearby Dec 15 points higher. Feeder cattle futures are steady to 7.5 cents higher in the front months. The CME feeder cattle index on December 5 was down 29 cents to $156.11. Wholesale boxed beef values were mixed on Thursday morning. Choice was down $1.24 at $205.16, with select 14 cents higher at $184.25. Estimated WTD FI slaughter was at 358,000 head through Wednesday, 1,000 above last week and 15,000 head larger than the same week last year. There were a few cash sales of $117 to $118.5 on Wednesday, with Thursday morning trade showing mostly $117 sales. US export sales of beef for what’s left of 2017 fell to a MY low of 2,665 MT, which is a drop of 80.7% from last week and 41% lower than last year. Japan purchased 1,700 MT, as reductions of 2,700 MT was shown for South Korea. There was a small Chinese cancellation of 200 tonnes. There were 11,277 MTs reported for 2018 sales for the week of 11/30, with South Korea buying 5,700 MT.

Dec 17 Cattle are at $116.050, up $0.150,

Feb 18 Cattle are at $119.200, down $0.075,

Apr 18 Cattle are at $120.500, down $0.125,

Jan 18 Feeder Cattle are at $146.025, unch,

Mar 18 Feeder Cattle are at $144.175, up $0.075

Apr 18 Feeder Cattle are at $144.400, up $0.025

Market Commentary provided by:

Brugler Marketing & Management LLC
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