Feeder Cattle Futures PricesThu, Feb 11th, 2016
Latest Brugler Feeder Cattle Report
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Live cattle futures settled with losses from $1.975 to $2.35. Feeders were sharply lower early in the session, with most contracts putting in new lows for the move. Most contracts finished the day down $0.975 to $1.85. The CME Feeder Cattle Index for 2/10 was down 70 cents to $158.79. Negotiated cash sales reported on Thursday were between $128 and $134, with a lower average price for the >80% Choice, than the <80% Choice live steers. Dressed sales reported prices from $204 to $207. The USDA reports that choice boxed beef prices were 16 cents higher on the day to $218.19, and select boxes averaged $213.62, up just 2 cents from last night. Week to date FI slaughter was estimated 431,000 head, up 3,000 head from the same week a year ago. Actual slaughter during the week ending Jan 30 totaled 570,479 head, just slightly below the previous week, but slightly higher than the same week in 2015. Average weights were down 3 pounds to 835 pounds. There were 10,625 MT worth of beef sales during the week ending February 4, up 12% from the week before, but only 76% of the weekly total recorded during the same week in 2015. Japan accounted for 48% of reported sales.
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