Cattle Posting Strength Ahead of Cattle on Feed Data

Live cattle futures are posting midday gains of 15 to 60 cents so far on Friday. The Central Stockyards Fed Cattle Exchange online auction showed sales of 587 head on the 2,344 head listed on Friday morning. Sales were $187-187.50 live, with additional sales of $187 and $189 using their BidTheGrid™ method. Bids outside of that have been reported at $187, with light sales reported at $186 in the South on Thursday by USDA. Feeder cattle are trading with 80 cent to $1.25 gains across most contracts. The CME Feeder Cattle Index was up a penny at $254.27 on November 20. 

Cattle on Feed data is set to be released this afternoon, with October Placements seen 3.8% above last year and marketings up 5.2%. November 1 on feed estimates are expected to be down 0.1%.

Accumulated beef exports via the Export Sales report have totaled 698,723 MT, which is down 2.36% from last year. Total commitments by adding in unshipped sales are up 0.9% at 829,337 MT.

USDA wholesale Boxed Beef prices were mixed in the Friday AM report. Choice boxes were up $1.44 to $308.23/cwt, with Select 49 cents higher @ $272.92. The Chc/Sel spread widened to $35.80. USDA estimated Thursday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 496,000 head. That is 13,000 head above the previous week and well above the same week last year due to Thanksgiving being a week later this year.

Dec 24 Live Cattle  are at $186.175, up $0.575,

Feb 25 Live Cattle  are at $187.70, up $0.25,

Apr 25 Live Cattle  are at $189.750, up $0.225,

Jan 25 Feeder Cattle  are at $254.250, up $0.800

Mar 25 Feeder Cattle  are at $253.225, up $1.825

Apr 25 Feeder Cattle  are at $254.450, up $1.325

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