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Year-End Cash Cattle Rally Continues

Cattle sold on a dressed basis in the north on Friday at $195 to $196 per cwt., $3 to $4 higher than last week. Many southern feedyards were asking $123 on Friday, but sales occurred at $122, or $2 higher. A few cattle traded early in the week at $121.

February live cattle futures closed down a dime at $126.70. For the week, prices gained 90 cents. March feeder cattle futures ended the day with losses of 37 1/2 cents, and for the week gained 42 1/2 cents.

Cattle futures should see support early next week as a major winter storm–with 6 to 12 inches of new snow from central Nebraska to the eastern Dakotas and Minnesota—will hamper animals getting to market. A follow up storm system is possible in the far southern Plains during mid-week next week.

Choice beef cutout closed 74 cents lower at $208.96. Select was $3.54 higher at $204.57. The Choice/Select spread was $4.39.

Auction receipts were light due to the holiday and no market test was reported by AMS.

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By: Drovers

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