Cattle Today

12.12 Markets

Cattle

February LC day 10 of a buy signal. April LC day 10 of a buy signal. Jan FC: day 10 of a buy signal.
Trends are positive live cattle and positive feeder cattle.
Cattle futures climbed on Thursday to their highest levels since late October following a jump in cash prices for slaughter-ready cattle.
Stock market strength continues to help the demand optimism despite higher priced beef.
Beef packers were losing $32.05 per head of cattle as of Thursday. Margins had climbed sharply last month and peaked at $163 per head by December 2, before cooling and falling back into negative territory this week.
Cattle gapped open higher. Feeders have upside gap target $348.17.
Boxed beef lower.
Beef prices seasonally declining but both at record level for this timeframe.
North/South cattle spread back to even after trading an $8 northern discount 2 weeks ago. North market has set the trend for 2025.
Live deals in the South were marked at $230, $6 higher than the previous week’s weighted averages. Dressed deals in the North were marked at $355, $12 higher
In NE, steers were steady to $10 higher. Heifers 500 to 800 pounds were steady to $10 higher. Medium and Large 1 feeder steers 701 to 749 pounds brought $360 to $389 and feeder steers 753 to 797 pounds brought $349 to $389. Medium and Large 1 feeder heifers 650 to 694 pounds brought $348 to $367.50 and feeder heifers 700 to 740 pounds brought $341.50 to $354.
Feeder Cattle Index: $345.47 vs $344.03 prior.
Slaughter: 123,000, 117,000 wk ago, 125,000 prior.
Boxed Beef: Choice $358.11, -1.25, Select $343.46, -1.42, Ch/Se spread 14.65, Loads 151.

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