Live cattle futures are mostly 12 to 67 cents higher, led by the expiring December contract as it converges with the presumed cash market. Feeder futures are 7 to 35 higher. The CME feeder cattle index on December 27 was down $2.48 to $145.88. Wholesale boxed beef values are higher, with choice boxes up $1.01 and select boxes up $1.29/cwt from Thursday. 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 $119.50 and asks of $125. There have still be 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 are at $125.175, up $0.625,

Feb 18 Cattle are at $121.950, down $0.300,

Apr 18 Cattle are at $122.925, up $0.175,

Jan 18 Feeder Cattle are at $145.775, up $0.175

Mar 18 Feeder Cattle are at $142.425, up $0.200

Apr 18 Feeder Cattle are at $142.825, up $0.150

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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