Cattle Showing Midday Strength

Alan Brugler Barchart Tue Dec 1, 2020

Live cattle futures are trading the Tuesday session 25 to 70 cents higher. Feeder cattle are adding to Monday’s gains with triple digit rallies past the Jan contract. The 11/27 CME Feeder Cattle Index was $138.90, up $1.35 cents from the previous day. The FCE online cattle auction has 1,025 head listed so far for tomorrow’s sale. Cash trade for the week has yet to take hold, with USDA only confirming a few $110 deals in WCB. Wholesale boxed beef prices were mixed this morning tightening the spread $2.03 to $19.22. Choice boxes were 34 cents weaker, and Select was up $1.69. USDA estimated weekly FI cattle slaughter for Monday at 119,000 head.  

Dec 20 Cattle are at $110.425, up $0.250,
Feb 21 Cattle are at $113.300, up $0.425,
Apr 21 Cattle are at $117.100, up $0.700,
Jan 21 Feeder Cattle are at $142.000, up $0.950
Mar 21 Feeder Cattle are at $141.100, up $1.125
Apr 21 Feeder Cattle are at $142.450, up $1.375

--- provided by Brugler Marketing & Management