Live cattle futures lost a little traction at the close, but still managed gains of 87.5 cents to $1.30 on Turnaround Tuesday. Feeder cattle futures were also higher, with nearby up Jan $2.075. The CME feeder cattle index on November 20 was down 20 cents to $156.71. Wholesale beef prices were higher on Tuesday afternoon. Choice was up $2.45 at $208.63, with select boxes 60 cents higher at $188.65. USDA indicated FI cattle slaughter at 240,000 head through Tuesday, 5,000 larger than a week ago and 8,000 above the same week in 2016. There were cash sales of $118 reported on Tuesday with a few in KS rumored around $119.50. Wednesday’s FCE auction will show 955 head for sale. With cash trade already developing, the online auction will be fairly insignificant to price trend discovery unless it is at $122!

Dec 17 Cattle closed at $117.975, up $0.875,

Feb 18 Cattle closed at $124.050, up $1.025,

Apr 18 Cattle closed at $124.800, up $1.100,

Jan 18 Feeder Cattle closed at $151.625, up $2.075

Mar 18 Feeder Cattle closed at $149.825, up $1.775

Apr 18 Feeder Cattle closed at $149.675, up $1.825

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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