Friday markets
A bullish Cattle on Feed report sent the markets higher into the weekend.
Live cattle futures closed higher. The February contract gained $2.52 to close at $234.90, and the April contract gained $2.10 to close at $236.92.
“The live cattle complex is trading sharply higher into midday Friday as traders have grown more confident, and some light cash cattle trade has developed,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments.
Cash trade for the afternoon was about 46,000 head. Live steers sold from $232-236.50, and dressed steers sold from $365-370. Total cash trade for the week through the afternoon was about 50,000 head.
Slaughter for the day is estimated at 84,000 head, compared to 92,000 head a week earlier. With tomorrow’s slaughter expected at just 4,000 head, total slaughter for the week is estimated at 535,000 head, compared to 562,000 head a week earlier.
“The slaughter is likely to remain near the current range for the coming weeks as packers adjust to a plant closing and new adjusted slaughter rates in the remaining plants,” the Cattle Report wrote.
Boxed beef prices were higher on 123 loads. The Choice cutout gained $1.47 to close at $368.92, and the Select cutout gained 66 cents to close at $362.39.
USDA released its latest Cattle on Feed report today. As of Jan. 1, cattle and calves on feed totaled 11.5 million head, 3% below a year earlier. Placements in December totaled 1.55 million head, 5% lower. Marketings were 1.77 million head, a 2% increase from 2024. Other disappearance during December was 58,000 head, a 2% decrease from 2024.
Feeder cattle
Feeder cattle futures closed higher over the day. The January contract gained $1.07 to close at $364.80, and the March contract gained 90 cents to close at $360.17.
The CME Feeder Cattle Index lost $1.75 to close at $363.48.
Corn futures closed higher, up 6 cents on the March contract to $4.30 and up 5 cents on the May contract to $4.38. — Anna Miller Fortozo, WLJ managing editor
