Cattle Holding Strong Before Thanksgiving
Live cattle futures are holding strong on Wednesday with front months firm to 20 cents higher. Feeder cattle futures are up 82 cents to $1.275, with help coming from losses on the gran complex. The 11/19 CME Feeder Cattle Index was $137.12, up 18 cents from the previous day. Wholesale boxed beef prices were higher again in the Wednesday AM report. Choice was up $0.62 at $244.92/cwt, with Select up $1.40 to $221.11/cwt. A few bids in the South at $111 have surfaced, but no trade has been reported. USDA estimates Tuesday’s FI cattle slaughter at 122,000 head, up 1,000 from a week ago and well above last year. The week to date (WTD) is 242,000 head, up 2,000 head from last week.
| DEC 20 Cattle closed at $111.375, up $0.200, |
| FEB 21 Cattle closed at $113.975, up $0.025, |
| APR 21 Cattle closed at $117.250, up $0.100, |
| JAN 21 Feeder Cattle closed at $139.875, up $1.275 |
| MAR 21 Feeder Cattle closed at $139.050, up $0.925 |
| APR 21 Feeder Cattle closed at $140.175, up $0.825 |
--- provided by Brugler Marketing & Management
