Cattle Decline as the Week Ends

Cattle Market Update: Prices Decline as Week Ends

At midday, live cattle futures are trending downward, with losses ranging from $1.50 to $1.70. Cash market activity is increasing, as trades in the North reached $233 on Friday, while bids in the South stood at $232. The Fed Cattle Exchange online auction held Friday morning concluded without any transactions, as bids remained between $230 and $231. Meanwhile, feeder cattle futures have dropped by $2.30 to $3.60 so far today. The CME Feeder Cattle Index climbed by $4.92, reaching $368.07 as of January 7.

According to Thursday's report from APHIS, additional cases of New World Screwworm have been identified in several Mexican states, including Tamaulipas and San Luis Potosi.

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The USDA's Friday morning report indicated that wholesale boxed beef prices have declined, with the Choice/Select spread now at $3.80. Choice cuts fell by $1.55 to $355.24, while Select cuts decreased by 62 cents to $351.44. On Thursday, federally inspected cattle slaughter was estimated at 117,000 head, bringing the week's total to 465,000—down 10,732 head compared to the same period last year.

Current Futures Prices

• February 26 Live Cattle: $233.650, down $1.625
• April 26 Live Cattle: $234.525, down $1.700
• June 26 Live Cattle: $229.600, down $1.675
• January 26 Feeder Cattle: $360.175, down $2.300
• March 26 Feeder Cattle: $354.450, down $3.275
• April 26 Feeder Cattle: $353.050, down $3.575