Thursday Cattle Lower at Midday

Live cattle futures are lower so far, with April futures down by triple digits. Front month feeder cattle futures are continuing some of yesterday’s losses with futures falling another 35 to 65 cents. The 01/21 CME Feeder Cattle index was down 29 cents to $145.17. Average estimates of the CoF report have traders anticipating Jan 1 cattle on feed at 11.948 million head, up about 2%. Placements in December are estimated at 1.828 million head, which would be 3.4% higher. The average trade estimate is to see a 5.2% increase yr/yr in December marketings to approximately 1.832 million head. Wholesale boxed beef prices were mixed again early Thursday, further widening the Chc/Sel spread to $4.38. Choice boxes were at $215.44 following a 48 cent hike, whereas Select boxes were 96 cents lower to $211.06. USDA’s estimate for weekly FI cattle slaughter through Wednesday was 368,000 head.

Feb 20 Cattle are at $125.575, down $0.600,

Apr 20 Cattle are at $125.700, down $1.075,

Jun 20 Cattle are at $117.700, down $0.750,

Jan 20 Feeder Cattle are at $143.550, down $0.375

Mar 20 Feeder Cattle are at $142.700, down $0.350

Apr 20 Feeder Cattle are at $145.375, down $0.650

---provided by Brugler Marketing & Management

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