Cattle Maintain Wednesday's Upward Momentum Through the Close

Cattle Market Wrap-Up: Wednesday's Performance

On Wednesday, live cattle futures ended the session with gains ranging from 17 to 72 cents across various contracts. In the cash market, limited transactions took place at $232 per head, with additional bids surfacing at $233. The Fed Cattle Exchange's online auction saw no completed sales for the 1,228 head offered, with live bids at $230 and beef bids at $355.

Feeder cattle futures also advanced, climbing between 45 cents and $1.70 for most contracts. Meanwhile, the CME Feeder Cattle Index slipped by $0.27, settling at $367.41 as of January 19.

Boxed Beef and Slaughter Data

According to the USDA's Wednesday morning Boxed Beef report, wholesale beef prices moved higher, and the spread between Choice and Select narrowed to $3.66. Choice boxed beef increased by $1.35 to reach $366.11, while Select rose by $2.61 to $362.45. The USDA estimated Wednesday’s federally inspected cattle slaughter at 114,000 head, bringing the weekly total to 333,000. This figure is 19,000 head fewer than the previous week and 24,949 below the same period last year.

Closing Prices for Key Contracts

• February 26 Live Cattle closed at $233.100, up $0.725
• April 26 Live Cattle closed at $234.950, up $0.375
• June 26 Live Cattle closed at $230.875, up $0.275
• January 26 Feeder Cattle closed at $363.225, up $0.600
• March 26 Feeder Cattle closed at $359.375, up $1.700
• April 26 Feeder Cattle closed at $358.125, up $1.675