At the close on Wednesday, Feb cattle futures were 2 cents higher to $113.50. The other finished cattle futures closed the Wednesday session down 37 to 57 cents. Feeder cattle futures closed the session with gains of $0.72 to $1.12. 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. Outside of the FCE there were reports of $110 trade in KS and $109 in NE. 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 on Wednesday. Choice was up $1.42 and Select was up 84 cents. That widened the premium to $11.63, which is the largest for this date since ’07. USDA estimates the week’s FI cattle slaughter at 349k head. That is even with last week’s pace, but down from 367k head last year.
| Feb 21 Cattle closed at $113.350, up $0.025, |
| Apr 21 Cattle closed at $118.875, down $0.475, |
| Jun 21 Cattle closed at $116.150, down $0.575, |
| Jan 21 Feeder Cattle closed at $135.300, up $0.900 |
| Mar 21 Feeder Cattle closed at $137.525, up $0.725 |
| Apr 21 Feeder Cattle closed at $140.625, up $1.025 |
--- provided by Brugler Marketing & Management
