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.




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