Cattle Today

12.01 Markets

Cattle

December LC day 18 of a sell signal. February LC day 18 of a sell signal. January FC: day 18 of a sell signal.
Live cattle trends negative, negative feeder cattle.
Cattle setting back on cash weakness
Cash trade in the south $174, down $3, dressed in NE $275, down $4.
Bloomfield IA auction: Medium and Large 1 feeder steers 510 to 548 pounds brought $280 to $313.50 and feeder steers 600 to 647 pounds brought $247 to $276.25. Medium and Large 1 feeder heifers 507 to 542 pounds brought $250 to $273.50 and feeder heifers 552 to 555 pounds brought $265 to $272.
Boxed beef higher, resistance $300 in the choice.
Choice/Select spread is a wide $34.
Funds net long lowest since October 2022.
Fund liquidation may be over.
Cattle looking for seasonal support.
February cattle have chart gaps above the market.
Futures remain at a discount to cash.
Beef demand has yet to pickup. Exports poor yesterday.
End of month positioning yesterday.
Wide swinging market but cattle looking to stabilize.
Feeder Cattle Index: $224.77 vs $222.25 prior.
Slaughter 125,000, 126,000 wk ago, 128,000 prior.
Boxed Beef: Choice 299.02, 1.99, Select 264.75, 0.66, Ch/Se spread 34.27 Loads 181.

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