Live cattle futures saw Friday losses of 27 to 62 cents, with the weekly loss taken to $4.70 in December. A few cash sales in the north were reported at $215-219 last week, with most on the higher side of that range, and $222-224 in the South. Feeder cattle futures were $1.20 to $215 lower on Friday after a back and forth session, as January was down $6.32 on the week. Preliminary open interest slipped 1,279 contracts on Friday. The CME Feeder Cattle Index was up $1.44 to $339.72 on November 20.
The monthly Cattle on Feed report from Friday showed the October placement total at 2.039 million head, down 10.02% from last year. Marketings during that month were down 8.02% to 1.697 million head. That took the November 1 on feed number to 11.706 million head, a 2.17% drop from last year and near trade estimates.
Later on Friday, Tyson announced that it is planning to close its 5,000 head per day Lexington, NE plant and shift its Amarillo, TX plant to a single full capacity shift.
USDA reported Wholesale Boxed Beef prices higher in the Friday PM report, with the Chc/Sel spread narrowing to $14.50. Choice boxes were up 20 cents to $371.48, while Select was $2.80 higher at $356.98. USDA federally inspected cattle slaughter for last week was estimated at 585,000 head. That 9,000 head above last week but 50,308 head below the same week last year.
Dec 25 Live Cattle closed at $214.450, down $0.275,
Feb 26 Live Cattle closed at $214.775, down $0.625,
Apr 26 Live Cattle closed at $215.150, down $0.425,
Jan 26 Feeder Cattle closed at $314.225, down $2.150,
Mar 26 Feeder Cattle closed at $307.050, down $1.500,
Apr 26 Feeder Cattle closed at $305.350, down $1.200,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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