Live Cattle
Short Term: Up
Long Term: Up
Opening Calls: 20-40 Lower

Live cattle futures closed modestly higher in the February contract to end the short week, with the weekly settlement below the week before in spite of sharply higher cash and beef prices. Not sure what to expect after all of that, but believe that we will stay volatile as we start the new year. Overnight equity markets may be the early key, with the Dow off nearly 300 points as we write.

Feeder Cattle
Short Term: Up
Long Term: Up
Opening Call: Mixed

Feeder cattle futures finished the week strong, picking up 2.00 in the March contract on Thursday but were still .22 lower for the week. Corn is slightly lower overnight and early calls on the feeders look mixed to a bit  firmer. We will get to see what the cash trade in the sale barns looks like for the first time in the past two weeks, with Oklahoma City and others back on line.

Bret Crotts
Schwieterman Marketing, LLC