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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Live cattle futures traded mostly 10 to 30 cents yesterday, with front month Feb16 22 cents higher. Feeders were 92 cents to $1.425 lower. The CME Feeder Cattle Index for 2/3 was down 46 cents from the previous day to $159.68. Cash cattle trade has been mostly inactive for the first four days of the week, but a few live sales of $134 were reported on Thursday. The USDA reported that choice and select boxes were each up 46 cents on Thursday, to $223.03 and $218.48 respectively. WTD FI slaughter was estimated at 392,000 head, down 52,000 head from last week, and 38,000 head smaller than the same week in 2015. Actual slaughter during the week ending 1/23 was 575,317 head, down just 1% from the same week in 2015. Average dressed weights were up 4 pounds from the week before at 835 pounds.