Cattle Pull Back into Month End

Live cattle futures posted Thursday losses of $2.55 to $3.45, as profit taking took over as we near month end. Cash trade has kicked off at $208 in the south, with a few at $209. Norther sales have been near $210 live and $330 in the beef. The Thursday morning Fed Cattle Exchange online auction from Central Stockyards showed $209 sales on two lots in KS, with one lot sold at $211 in CO using the BidTheGrid™ method. Feeder cattle futures were $2.075 to $2.275 lower, with January $1.35 upon expiration.  The CME Feeder Cattle Index was up another $1.62 from the day prior at $281.07 on January 29. 

USDA reported a total of 20,166 MT of beef sold for 2025 shipment in the week ending on 1/23, the largest so far this year. South Korea was the buyer of 11,800 MT, with Japan in for 3,800 MT. Shipments also climbed to 21,490 MT in that week. That was 82.54% larger than the week prior and 39.23% above the same week last year. South Korea was the destination of 3,400 MT, with 2,700 MT headed to Japan.

Ahead of the Friday afternoon annual Cattle Inventory report, the trade is looking for all cattle and calves down 0.9% from last year, with the calf crop down 1.5%. Beef cow inventory was seen down 0.7%, with replacement heifers expected to be up 1.3%.

USDA wholesale Boxed Beef prices were lower in the Thursday PM report, with the Chc/Sel spread @ $11.58. Choice boxes were down $3.06. at $327.48/cwt, with Select $4.77 lower at $315.90. USDA estimated federally inspected cattle slaughter at 122,000 head on Thursday, taking the weekly total to 484,000 head. That is 2,000 head below last week and down 16,942 head from the same week last year.

Feb 25 Live Cattle  closed at $204.475, down $2.550,

Apr 25 Live Cattle  closed at $201.500, down $3.450,

Jun 25 Live Cattle  closed at $195.775, down $2.975,

Jan 25 Feeder Cattle  closed at $281.900, up $1.350,

Mar 25 Feeder Cattle  closed at $273.200, down $2.075,

Apr 25 Feeder Cattle  closed at $272.325, down $2.275,