Cattle futures mixed heading into Friday

Cattle futures mixed heading into Friday

At the Chicago Mercantile Exchange, live and feeder cattle ended the day mixed, watching direct cash business develop.  August live cattle closed $.32 lower at $137.20 and October lives closed $.10 lower at $142.65.  August feeder cattle closed $.37 higher at $176.02 and September feeder cattle closed $.12 higher at $177.37. 

There was a very light, scattered trade reported on Thursday following the light to moderate trade that took place earlier in the week.  Dressed deals were at $225 to $228 in the North.  So far this week, live deals in the South have been at $136, $1 higher than last week’s weighted averages.  Northern dressed business has been at mostly $225 to $226, $3 to $4 higher than last week’s weighted average basis in Nebraska.  Look for some additional trade to develop over the balance of the week. 

At the Winter Livestock Auction in Kansas, compared to last week steers 400 to 950 pounds were $10 to $13 higher on a light test.  Heifers 400 to 940 pounds were $7 to $12 higher, also on a light test.  The USDA says demand was good.  Receipts were down on the week and the year.  Feeder supply included 52% steers and 73% of the offering was over 600 pounds.  Medium and Large1 feeder steers 853 to 884 pounds brought $153.50 to $158.85 and feeder steers 909 to 927 pounds brought $154.75 to $155.  Medium and Large 1 feeder heifers 798 pounds brought $147 and feeder heifers 908 to 947 pounds brought $135.85 to $138. 

Boxed beef ended the day mixed on light to moderate demand for light offerings.  Choice closed $.64 lower at $271.10 and Select closed $.20 higher at $249.61.  The Choice/Select spread is $21.49.

    

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