Cattle Futures Mixed As Choice Beef Holds Strong Premium
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. Wholesale Boxed Beef prices were higher again on Wednesday. Select boxes were $207.28 cwt. and with an unseasonably large premium, Choice was $218.91. USDA estimates the week’s FI cattle slaughter at 349k head. That was even with last week’s pace, but down from 367k head last year.
--- provided by Brugler Marketing & Management
