Cattle Market News and Commentary

Live cattle futures settled with 42.5 cent to $1.075 gains on Friday, with Feb closing a dime off the high. Feeder cattle futures were up 57.5 cents to $1.025. The CME feeder cattle index was down 12 cents on February 7 at $141.69. Wholesale boxed beef prices were lower on Friday afternoon. Choice boxes were down $1.36 at $215.35 with Select 36 cents lower at $211.17. Weekly USDA estimated FI cattle slaughter was 614,000 head. That is up 21,000 head from last week and 25,000 larger than the same week last year. A few cash sales were reported at $125 on Friday. USDA trimmed 2018 beef production by 75 million pounds to 26.864 billion. Production for 2019 was also revised lower by 175 million pounds to 27.61 billion.

Market Commentary provided by:

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