Dec. 6 -- The cash live cattle trade Friday morning was light. USDA’s mandatory price reporting (MPR) service reported that Nebraska sold 13,551 head at $208.27/cwt. dressed or $131.74 live for a weekly total of 31,122 head. Iowa-southern Minnesota sold 3,923 head at $208.32 dressed or $131.86 live for a weekly total of 25,258 head. Kansas sold 1,137 head at $131 live for a weekly total of 27,990 head. Texas sold no cattle for a weekly total of 10,979 head. The MPR weekly totals include negotiated cash and grid sales.
Live cattle futures closed flat to mixed. December closed down 22 points at $131.42 (vs. $133.47 last Friday), February closed down 5 points at $132.85, April closed down 5 points at $133.70, June closed up 17 points at $128.45, August closed up15 points at $126.85 and October closed up 10 points at $129.00.
The week’s cattle slaughter was an estimated 629,000 head (vs. 640,859 head last year), with Friday’s kill 113,000 head and Saturday’s kill 33,000 head.
Year-to-date FI slaughter is an estimated 30.056M head, down 1.7% or 532,000 head from 2012’s 30.588M head. Hog slaughter year to date is down 1.5% on last year.
Boxed-beef cutout values were lower to sharply lower on light demand and light to moderate offerings. The Choice cutout declined $0.94/cwt. from the day before to $201.47 ($202.88 last Friday), while the Select cutout declined $2.64 to $186.98. The Choice-Select price spread was $14.49, vs. $12.47 last Friday. The reported spot boxed-beef trade for the week was 539 loads of fabricated cuts, down 1.6% from the 548 loads of fabricated cuts last week.
Packer margins for the week were negative by $25.74/head, compared to a negative $35.54 the week before, according to HedgersEdge.com.
Have a good week,