Live cattle futures saw weaker trade on Tuesday, with contracts down $1.05 to $1.90 on the session. Cash trade has been quiet so far this week, with a few $229 sales reported early in KS, steady to $1 higher than last week. The Tuesday Fed Cattle Exchange showed no sales on the 1,734 head offered, with bids at $225-227.50. Feeder cattle posted losses of $1.30 to $1.90 at the close. CME’s Feeder Cattle Index was up another $1.17 to $353.08 on December 22.
NASS Cold Storage data from this afternoon showed 425.5 million lbs of beef stocks at the end of November, which was down 3.42% from last year and the smallest November total since 2014.
