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IPC Index — Mexico MarketLive cattle futures closed Friday with losses of 57 cents to $1.40, as February was $2.40 higher over the week. Cash trade was stronger this week, as most of the country was $230. Feeder cattle futures closed the week with $3.35 to $4.30 losses on Friday, as January was a nickel higher on the week. The CME Feeder Cattle Index was back up $1.30 to $346.77 on December 10.
CFTC data is catching up on Commitment of Traders report, but still 4 weeks behind with data as of November 18 showing spec cutting 3,934 contracts from their net long to 97,331 contracts. In feeder cattle futures and options, managed money was net long 17,430 contracts.
USDA Wholesale Boxed Beef prices were mixed in the Friday afternoon report, with the Chc/Sel spread narrowing to $13.22. Choice boxes were down 67 cents to $357.44, while Select was 76 cents higher at $344.22. USDA federally inspected cattle slaughter was estimated at 589,000 head for the week through Saturday. That was 4,000 head below last week and 15,032 head shy of the same week last year.
Dec 25 Live Cattle closed at $229.800, down $0.575,
Feb 26 Live Cattle closed at $229.550, down $1.400,
Apr 26 Live Cattle closed at $229.400, down $1.275,
Jan 26 Feeder Cattle closed at $339.100, down $4.300,
Mar 26 Feeder Cattle closed at $334.075, down $3.600,
Apr 26 Feeder Cattle closed at $333.225, down $3.350,
