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CME: Sharp Decline in Cattle Futures

09 January 2018

US - The slaughter data for red meat was light, in large part due to the holiday shortened week but also the impact of extreme winter weather on some slaughter operations in the East Coast, reports Steiner Consulting Group, DLR Division, Inc.

Cattle slaughter for the week was light due to missing a full Monday. Futures declined sharply on Friday when expectations for a higher cash market failed to materialize.

The choice beef cutout has moved higher in recent days but participants are fully aware of the seasonal tendency for cutout to weaken in the second half of January and into February.

The extreme cold impacting much of the country is also seen as more negative for beef than pork, since beef has a more central position in foodservice.

Concerns about demand in Q1 and the ability of feedlots to stay current considering large on feed inventories are top of the mind concerns at this time.

Daily Livestock Report - Copyright © 2008 CME. All rights reserved.

TheCattleSite News Desk

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