Cattle Closes Higher, Helped by the Cutout

Live cattle futures posted another round of triple digit gains on Tuesday, with Dec up $1.35. Feeder cattle futures mirrored the gains, up $1.30 in January. The 11/19 CME Feeder Cattle Index was $137.12, up 18 cents from the previous day. Wholesale boxed beef prices were higher again on Tuesday afternoon. Choice was up $2.70 at $244.30/cwt, with Select up $2.23 to $219.71/cwt. Despite the short week, not much cash action has taken place yet this week. The Fed Cattle Exchange has a total of 782 head listed for Wednesday morning’s sale. USDA estimates Tuesday’s FI cattle slaughter at 122,000 head, up 1,000 from a week ago and well above last year. WTD is 242,000 head, up 2,000 head from last week. 

DEC 20 Cattle closed at $111.350, up $1.350,
FEB 21 Cattle closed at $114.175, up $1.275,
APR 21 Cattle closed at $117.400, up $0.850,
JAN 21 Feeder Cattle closed at $139.125, up $1.300
MAR 21 Feeder Cattle closed at $138.625, up $1.350
APR 21 Feeder Cattle closed at $139.750, up $0.775

--- provided by Brugler Marketing & Management 

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