Cattle Market Finished Mostly Lower

Live cattle futures were mixed, April futures were 45 cents higher, while Dec and Feb posted 15 to 17 cent losses. Feeder cattle futures gave back back some of yesterday’s triple digits gains, posting losses of as much as $0.22 in the front months. The 12/11 CME Feeder Cattle index was at $143.31 with a 31-cent drop. Beef export sales for the week ending 12/05 were released this morning, and the USDA stated that 11,898 MT were sold. That was the second consecutive week with lower wk/wk sales and was 41.8% lower than the 5-week average. Within the same report, the USDA indicated that weekly shipments were 17,215 MT, which was a 17.68% increase over last week and only 9.7% below the 5-week average. Afternoon boxed beef prices are still weak. The Choice/Select spread is $13.09 and tightening seasonally. Choice boxes were a flat $3 lower this afternoon, while select boxes dropped by $1.16. Cash cattle negotiations this morning show $118 bids in TX, with asks still in the $121-$122 range. Cash cattle sales were reported at 119 in TX and KS this afternoon, while the USDA indicated some 117 action. Dressed sales were listed at $188 -$194. The FCE will hold a Friday sale this week, with showlists consisting of 977 head so far. Wednesday’s auction saw no sales. The USDA estimates week to date FI cattle slaughter at 386,000 head through Thursday, that is 9,000 head above last week’s pace.

Dec 19 Cattle closed at $120.425, down $0.150,

Feb 20 Cattle closed at $125.150, down $0.175,

Apr 20 Cattle closed at $126.325, up $0.450,

Jan 20 Feeder Cattle closed at $142.550, down $0.225

Mar 20 Feeder Cattle closed at $143.450, down $0.225

Apr 20 Feeder Cattle closed at $145.425, down $0.050

---provided by Brugler Marketing & Management

Market Commentary provided by:

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