The price in the ECB was shown at 52.51, compared to 51.52 in the WCB. USDA confirmed cash trade has been mostly quiet so far this week. Wednesday’s FCE auction featuring 992 head again saw no sales with 153 bids and 156 asks. ![]() Feeders are trading 10 cents to 70 cents higher so far. The National Average Base Hog price for Friday afternoon was 17 cents higher at 51.88. Front month fat cattle are 0.55 to 1.60 in the black so far for Wednesday. For Feb, that only reduced the week’s loss to 1.12. Overnight corn prices are quietly either side of unchanged. Some bearish sentiment may certainly spill over into next week’s business, but remember that ultimately the January feeder cattle futures contract (219. Lean hog futures finished the last trade day of the week with 0.87 to 1.52 gains. Corn prices were steady to slightly higher for the day, while the cash index had its’ first big up day in quite a while, jumping 2.52 to 217.84. Overnight macros are mixed, with equities and the Dollar higher for the day.įeeder cattle futures posted strong gains on Thursday, with nearly 2.00 gains in most traded contracts. The start of a new year is a good time to consider price risk management. The 2023 live cattle contracts are near 160. All of the fall 2023 feeder cattle contracts are above 200 per CWT and the spring contracts are near 190 (see chart above). It was another quiet day in the cash market, with fewer than 4,000 head reported by 2 pm for $168 cash and $267 in the northern beef market. Looking ahead, CME futures prices for 2023 contracts are trading at levels not seen since 2015. ![]() The CME Feeder Cattle Index for 12/06 was back down by 1.92 to 222.31. Feeder cattle futures ended the day with triple digit losses in the back months of as much as 1.82, while the March contract settled 57 cents weaker. Cutouts were mixed, with choice +.68 and select -.95, widening the spread back to 34.06. USDA had the Thursday cash market from 166-170, though action was light and the bulk remains near 170-171. ![]() Feeder Cattle futures have seen a similar jump in values over that time. February closed 1.00 off of session highs but. Since bottoming during the depths of the COVID-19 pandemic in spring 2020 at 81.45 per hundredweight (cwt), front-month live cattle futures prices have more than doubled, trading around 185 in fall of 2023. Live cattle futures closed moderately higher on Thursday, recouping most of the previous days losses.
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