Live cattle futures rounded out the Thursday session with contracts down a tick to 70 cents. Cash trade has yet to get fully kicked off this week, with very light northern trade at $290 in the beef. No sales were reported on the 2,344 head listed in Thursday morning’s Fed Cattle Exchange online auction from the Central Stockyards. Bids were in the $184-185 range, up $1-2 from Wednesday. Feeder cattle continue to lead the charge to the upside, with gains of 35 cents to $1.125. The CME Feeder Cattle Index was up a penny at $254.27 on November 20. 

Export Sales data showed a total of 14,250 MT of beef sold in the week of 11/14, a 4-week high. Japan was a buyer of 4,300 MT, with South Korea in for 3,300 MT and China buying 2,100 MT. Shipments were 16,333 MT, the largest in 7 weeks. Of that total, 4,900 MT was sent to South Korea, with 2,600 MT to Japan. 

Cattle on Feed data is set to be released on Friday, with October Placements seen 3.8% above last year and marketings up 5.2%. November 1 on feed estimates are expected to be down 0.1%.

USDA wholesale Boxed Beef prices were back higher in the Thursday PM report. Choice boxes were up 40 cents to $306.79/cwt, with Select $1.93 higher @ $272.92. The Chc/Sel spread narrowed to $33.87. USDA estimated Thursday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 496,000 head. That is 13,000 head above the previous week and well above the same week last year due to Thanksgiving being a week later this year.

Dec 24 Live Cattle  closed at $185.600, down $0.700,

Feb 25 Live Cattle  closed at $187.425, down $0.500,

Apr 25 Live Cattle  closed at $189.525, down $0.175,

Nov 24 Feeder Cattle  closed at $255.125, up $0.325,

Jan 25 Feeder Cattle  closed at $253.450, up $1.125,

Mar 25 Feeder Cattle  closed at $252.100, up $0.700,