Wednesday fat cattle futures are trading mostly lower, with losses limited to 62 cents at midday. Feb futures are 35 cents higher at midday. Feeders are in the black with triple digit gains on cheaper feed. The CME Feeder Cattle Index was $0.51 lighter at $132.90 on 1/18. The FCE auction on Central Stockyards sold 567 of the 1,547 head listed for a wtd average price of $110.79. USDA mentioned very light cash cattle activity in WCB through Tuesday. Estimates ahead of the CoF report on Friday show analysts expect Jan 1 inventory to be 0.5% lower yr/yr. December placements are expected to be between 0-7% lower yr/yr. The average estimate for marketings is a 0.6% increase. Wholesale Boxed Beef prices were higher again this morning. Choice was up 91 cents, and Select was 50 cents higher. USDA estimated Tuesday’s slaughter at 117,000 head. WTD slaughter was 229k head, compared to 231k LW and 245k LY.
| Feb 21 Cattle are at $113.675, up $0.350, |
| Apr 21 Cattle are at $118.950, down $0.400, |
| Jun 21 Cattle are at $116.125, down $0.600, |
| Jan 21 Feeder Cattle are at $135.300, up $0.900 |
| Mar 21 Feeder Cattle are at $137.825, up $1.025 |
| Apr 21 Feeder Cattle are at $140.650, up $1.050 |
--- provided by Brugler Marketing & Management
