Live cattle futures are showing Friday gains of a quarter to $1.25 at midday. Light cash trade has been reported this week in the North at $225-227, with $228 reported in the South. Feeder cattle futures are showing a bounce to close out the week, up $1 to $2.05. We have expanded limits of $10.75 for live cattle and $13.75 for feeders today. The CME Feeder Cattle Index was down another $1.75 to $342.42 on November 12.
USDA Wholesale Boxed Beef prices were weaker in the Friday AM print, narrowing the Chc/Sel spread to $16.15. Choice boxes were down $2.89 to $370.68, while Select was 50 cents lower at $354.53. USDA federally inspected cattle slaughter for Thursday was at 120,000 head, with the weekly total at 471,000. That is 15,000 head above last week and 13,455 head below the same week last year.
Dec 25 Live Cattle are at $219.250, up $0.250,
Feb 26 Live Cattle are at $219.650, up $0.700,
Apr 26 Live Cattle are at $219.725, up $1.125,
Nov 25 Feeder Cattle are at $338.000, up $1.000
Jan 26 Feeder Cattle are at $320.500, up $2.050
Mar 26 Feeder Cattle are at $313.600, up $1.825
