Cattle Today

01.30 Markets

Cattle

February LC: day 4 of a buy signal. April LC day 4 of a buy signal. March FC: day 5 of a buy signal.
Cattle trends positive live cattle, positive feeders.
Cattle trends remain positive.
Cash trade on Friday $156, up $1, dressed in the north $248, steady.
January is seasonally a weak demand timeframe.
Boxed beef lower on Friday.
Boxed beef lowest since December 22.
Average dressed cattle weights 829 lbs, 830 wk prior, 845 yr ago, average is 833.6 lbs.
Production last week 545.2 mln lbs, 537 yr ago.
Cattle inventory report tomorrow afternoon
Estimates are expected for a positive inventory report suggesting new highs.
The cow herd expected to be lower on the report.
Expectation that the beef herd will be down 4.2%. If so, the beef herd on Jan. 1 would be down 1.265 million head from a year ago at 28.860 million head, which would be the lowest beef cow herd on record.
The calf crop is expected to be down 2.8% or a decrease of one million head from a year ago.
Feeder Cattle Index: 179.57 vs 178.80 prior.
Slaughter 124,000, 123,000 wk ago, 118,000 prior.
Boxed Beef: Choice 267.76, -0.99, Select 250.54, -0.94, Ch/Se spread 17.22 on 111 loads.

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