Live cattle futures are trading with nearby Dec down a dime and other contracts up 5 to 35 cents. Cash trade has yet to get kicked off this week, with very light northern trade at $290 in the beef on Tuesday. No sales were reported on the 2,344 head listed in this morning’s Fed Cattle Exchange online auction from the Central Stockyards. Bids were in the $184-185 range, up $1-2 from yesterday. Feeder cattle continue to lead the gains on Thursday, with gains of 50 cents to $1.55. The CME Feeder Cattle Index was up 58 at $254.26 on November 19. 

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 AM report. Choice boxes were up 26 cents to $306.65/cwt, with Select $2.56 higher @ $273.55. The Chc/Sel spread narrowed to $33.10. USDA estimated Wednesday’s federally inspected cattle slaughter at 127,000 head, taking the weekly total to 371,000 head. That is 13,000 head above the previous week and 10,485 head below the same week last year.

Dec 24 Live Cattle  are at $186.200, down $0.100,

Feb 25 Live Cattle  are at $187.975, up $0.050,

Apr 25 Live Cattle  are at $190.050, up $0.350,

Nov 24 Feeder Cattle  are at $255.300, up $0.500

Jan 25 Feeder Cattle  are at $253.875, up $1.550

Mar 25 Feeder Cattle  are at $252.475, up $1.075