Live cattle futures saw $1.85 to $2.40 gains to close out Friday, as Feb was $1.25 higher last week. Preliminary open interest was up 2,146 contracts on Friday. Cash trade was softer his week at $228 across the country and $356-358 dressed. Feeder cattle futures were up $4 to $5.325 on Friday, with January closing the week $6.50 higher. OI was up 520 contracts, suggesting light new buying interest. The CME feeder cattle index from December 17 was up 26 cents from the day prior at $350.05.
The December Cattle on Feed report showed November placements below estimates at 1.595 million head, a 11.19% drop from last year. That was a record low for the month. Marketings were 1.521 million head, down 11.83% vs. 2024. December 1 on feed totaled 11.727 million head, a 2.13% drop from last year and below estimates calling for a 1.6% decline.
