Cattle Lower on Friday

Live cattle futures closed 70 cents to $1.20 lower in the nearby contracts on Friday. Feeder cattle futures were down 30 to 55 cents on the day. The 11/25 CME Feeder Cattle Index was $136.90, down 53 cents from the previous day. The USDA Export Sales report showed a net reduction of 15,543 MT of beef export sales, with most of that from South Korea. Shipments were still a solid 20,222 MT, the third largest this MT. Sales for 2021 were also net negative for the week. Wholesale boxed beef prices were lower in the Friday afternoon report. Choice was down $2.21 to 242.85/cwt, with Select 22 cents lower to 220.68/cwt. Both were higher for the week. A few cash trades at $111were reported this week, with northern sales of $174 in the beef. USDA estimates week to date cattle slaughter through Saturday was 564,000 head, up 9,000 head from the same week last year.

DEC 20 Cattle closed at $110.550, down $0.825,
FEB 21 Cattle closed at $112.975, down $1.200,
APR 21 Cattle closed at $116.725, down $0.700,
JAN 21 Feeder Cattle closed at $139.625, down $0.550
MAR 21 Feeder Cattle closed at $138.775, down $0.500
APR 21 Feeder Cattle closed at $140.100, down $0.300

--- provided by Brugler Marketing & Management 

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