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Cattle Gaining Triple Digits
Alan Brugler - BRUG - Fri Jan 22, 11:51AM CST

Ahead of the monthly CoF report, live cattle are rallying $1.17 to $2.27. Front month feeders are also stronger with $1.65 to $4.05 gains. The CME Feeder Cattle Index recovered 38 cents on 1/20 to $133.19. Texas cattle traded hands from $110-$111, matching the week’s trend. Through Thursday, this week’s northern deals are $109-$110 and $169-$173. Northern cattle remain discounted to prices in the South. CoF estimates show trade is looking for 0.5% drop in Jan 1 inventory. A 2.9% drop in December placements yr/yr. The average of estimates for Dec marketings is a 0.6% increase yr/yr. USDA’s weekly Export Sales report showed 24,500 MT of beef sold on the week ending 1/14. That was the largest weekly sale since November 12th. Japan and China were the top purchasers on the week. Japan and South Korea were also the top destinations for the 17,596 MT shipped. Wholesale Boxed Beef prices continued climbing. Choice boxes were up $1.85/cwt. to $223.05 and Select boxes were $3.24/cwt. higher at $213.52. USDA’s estimate for WTD cattle slaughter matches last week’s pace through Thursday with 469,000 head. That is down 20k head from the same week last year.

Feb 21 Cattle are at $116.375, up $2.275,
Apr 21 Cattle are at $122.150, up $2.200,
Jun 21 Cattle are at $118.750, up $1.625,
Jan 21 Feeder Cattle are at $137.375, up $1.500
Mar 21 Feeder Cattle are at $143.200, up $4.050
Apr 21 Feeder Cattle are at $145.300, up $3.425

--- provided by Brugler Marketing & Management

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