Live cattle futures are mixed on Friday, with nearby Feb 20 cents lower and back months higher. Feeder cattle futures are mostly 40 to 97.5 cents higher at midday. The CME feeder cattle index on January 10 was $148.81, down $2.78 from the previous day. Wholesale boxed beef values were lower on Friday morning. Choice boxes averaged 40 cents lower at $208.67, with Select boxes down 67 cents per cwt at $202.28. Estimated weekly FI cattle slaughter was 472,000 head through Thursday. That is 7,000 head more than the same week last year. Quarterly beef production was given a 130 million pound downward adjustment for the fourth quarter of 2017 to 6.74 billion pounds. Total production for 2017 was shown at 26.175 billion pounds, with 2018 up 170 million at 27.760 billion pounds.

Feb 18 Cattle are at $116.875, down $0.200,

Apr 18 Cattle are at $118.925, up $0.050,

Jun 18 Cattle are at $111.150, up $0.150,

Jan 18 Feeder Cattle are at $144.225, up $0.400

Mar 18 Feeder Cattle are at $142.350, up $0.975

Apr 18 Feeder Cattle are at $142.775, up $0.925

Market Commentary provided by:

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