Cattle

Live cattle futures are showing triple digit gains this morning, as are feeder cattle. 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. January feeders had matched the previous Index and are scrambling to catch up to the new value (and somewhat skeptical about the jump). Wholesale boxed beef values are higher this morning. Choice boxes are on average $1.32 higher than Friday, with Select boxes up $2.57 per cwt. Estimated weekly FI cattle slaughter last week was 502,000 head. That is 13,000 head fewer than the same week last year.

Feb 18 Cattle are at $122.625, up $1.075,

Apr 18 Cattle are at $123.650, up $1.225,

Jun 18 Cattle are at $114.825, up $1.175,

Jan 18 Feeder Cattle are at $148.000, up $2.000

Mar 18 Feeder Cattle are at $145.325, up $2.650

Apr 18 Feeder Cattle are at $145.550, up $2.475




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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