Cash Cattle Higher for First Time Since Halloween; COF up 2%
Cash fed cattle traded in moderate volumes in the North at $171 to $172 live and $271 dressed, which is $3 to $4 higher live and $4 higher dressed compared to the previous week. The South also traded in moderate volumes at $171 live, steady to $1 higher.
Feeder cattle traded mixed from $2 lower to $4 higher. Calve sold $3 lower to $4 higher.
Wholesale beef prices closed the week modestly higher. Choice boxes closed Friday at $292.93per cwt., up $1.29 for the week. Select boxes closed Friday at $261.15 per cwt., up $0.33 for the week.
Estimated weekly cattle slaughter was 621,000 head, down 28,000 head from the previous week. The year-to-date total was an estimated 31.73 million head, down 4.2% from last year.
February live cattle futures fell 15 cents to $168.525 and near mid-range. On the week, Feb. cattle fell 82 1/2 cents. March feeder cattle futures closed up $1.025 at $224.40 and nearer the session high. For the week, March feeders rose $2.225.
Cattle on Feed
USDA’s Cattle on Feed report found 12.0 million head in the nation’s large feedlots on Dec. 1, up 3% from last year. Placements in November totaled 1.87 million head, down 2% from the same month a year ago. Marketings totaled 1.75 million head, down 7% from the same month in 2022.
