Cattle Gain on Friday

Live cattle futures closed the Friday session with gains of 45 to 97 cents. April futures were the strongest gainer, with a $116.27 close and a $1.32 gain on the day. Feeder cattle futures closed with triple digit gains of $1.97 to $2.45. The CME Feeder Cattle Index was $1.04 lighter at $134.45 on 1/14. Friday cash trading ahead of the three day weekend was mostly quiet, the bulk of Southern deals this week was near $111 while Northern trades were mostly $106-$109. Wholesale Boxed Beef prices were mixed, but tightened the Chc/Sel spread back to $9.84. Choice boxes were $212.92 down by 45 cents. Select boxes were $2.01 higher to $203.08. CFTC data showed that cattle spec traders reduced their net long 3,161 contracts on new selling interest for the week ending 1/12. On net, managed money was net long 42,827. In feeders, spec traders were near net neutral with a 13 contract net long on 1/12. USDA estimates WTD FI cattle slaughter through Saturday at 651,000 head. That matches last week on another strong Saturday and is up 18k head yr/yr. YTD slaughter is estimated at 1.369 million head, compared to 1.605 million head at this point in 2020.

Feb 21 Cattle closed at $112.775, up $0.700,
Apr 21 Cattle closed at $118.200, up $0.975,
Jun 21 Cattle closed at $116.275, up $1.325,
Jan 21 Feeder Cattle closed at $134.575, up $1.975
Mar 21 Feeder Cattle closed at $135.825, up $2.450
Apr 21 Feeder Cattle closed at $138.300, up $2.300

--- provided by Brugler Marketing & Management




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