“`html
On Monday, live cattle futures have dropped the limit of $7.25 across most contracts, with feeder cattle futures down $9.25. Last week, cash trade prices were reported at $215-219 in the North and $220-224 in the South. The CME Feeder Cattle Index increased by $1.44 to $339.72, while an estimated 3,200 head are available at the weekly OKC feeder cattle auction, with feeder prices down $10-20 and calves down $20-40.
Tyson Foods announced plans to close its Lexington, NE plant, processing 5,000 head per day, while shifting its Amarillo, TX plant to a single full capacity shift, with shutdown expected on January 20. The monthly Cattle on Feed report indicated a 10.02% decrease in October placements to 2.039 million head year-over-year, and marketings fell 8.02% to 1.697 million head. As of November 1, the on-feed total was 11.706 million head, a 2.17% drop from last year.
USDA’s Monday report also showed a decline in Wholesale Boxed Beef prices, with Choice boxes at $370.03 (down $1.45) and Select boxes at $356.32 (down $0.66). Last week’s federally inspected cattle slaughter was estimated at 585,000 head, which is 9,000 head above last week but 50,308 head below the same week last year.
“`
