Cash Cattle Lower During Holiday Week
Light cattle sales volumes were recorded in all regions during Thanksgiving week with cash prices generally $1 lower than the previous week. It marked the fourth consecutive week with lower cash prices. Cattle traded in the North at $176 to $177 per cwt. live, $1 lower, and $280 dressed, which is $2 lower. Cattle in the South traded at $177 per cwt. live, $1 lower.
Live cattle futures saw heavy selling amid light volume, with nearby December futures falling $4.225 to $170.25, marking a $5.50 loss on the week. January feeder futures fell $7.80 to $219.325, marking a $9.175 loss in the shortened week. February closed down 410 points at $171.17 per cwt, April also closed down 410 points at $173.55 per cwt.
Wholesale beef prices were stronger on Choice and steady to weaker on Select. Choice boxed beef closed Friday at $298.03 per cwt., up $3.31 for the week. Select closed at $268.76 per cwt., down $0.38 for the week.
Weekly cattle slaughter was estimated at 538,000 head, which is 51,000 head fewer than the same week a year ago. The year-to-date slaughter is estimated at 29.189 million head, down 4.7% from last year.
