Cattle Futures Firm As Cash Trade Unfolds For Week

At the end of trading on Wednesday the board showed 7 to 75 cent gains for front end fat cattle futures. Feeder cattle recovered from midday lows and ended the session 10 to 32 cents higher as well. March contracts are UNCH. The CME Feeder Cattle Index was $139.87 on 12/01, down 43 cents. The FCE online cattle auction sold 533 of the 1,025 head listed for $110.50 and $110.75. USDA confirmed cash sales outside the FCE remain light, with the bulk of the sales having taken place near $110 so far. The full range is $106.50 to $112. Dressed sales so far have been $172-$174. Wholesale boxed beef prices were lower Wednesday. Choice boxes were quoted at $240.89 cwt. down $2.51 and Select was at $222.95 down $0.13. Brazilian government data showed 167,736 MT of beef shipments during November, that was an 8% increase for the country yr/yr. USDA estimated WTD cattle slaughter is 361k head through Wednesday. That is up 2,000 yr/yr and 1,000 wk/wk.

--- provided by Brugler Marketing & Management