Live cattle futures extended the rally on Friday, with contracts up $1.67 to $3.67 in the front months and weaker in the deferreds. A few cash sales were reported early this week at $201 in the South, with late week sales jumping up to $208 in KS. Northern trade has pushed up to $205-212, with a bulk at $210-212. Feeder cattle futures were up $1.625 to $3 on Friday.  The CME Feeder Cattle Index was back up 83 cents from the day prior at $278.28 on January 23. 

Export Sales data showed a total of 15,140 MT in the week ending on January 16, the largest in over a month. China was the largest buyer of 3,900 MT, with 3,200 MT sold to Japan and South Korea. Export Shipments were tallied at 11,773 MT. South Korea was the buyer of 3,100 MT, with 2,700 MT headed to Japan.

Cattle on Feed data showed December placements down 3.3% from a year ago at 1.642 million head. Marketings during December were up 1.04% at 1.742 million head. January 1 on feed inventory expected came in at 0.9% below a year ago at 11.823 million head.

Monthly Cold Storage data from NASS showed a total of 457.27 million lbs of beef stock held at the end of December. That was down 11.7% from last year but up 3.77% from the end of November, per the seasonal trend. 

USDA wholesale Boxed Beef prices were lower in the Friday PM report, with the Chc/Sel spread @ $11.00. Choice boxes were down $3.04 at $327.92/cwt, with Select 29 cents lower @ $316.62. USDA estimated federally inspected cattle slaughter are 597,000 head this week. That is 5,000 head below last week and down 12,150 head from the same week last year.

Feb 25 Live Cattle  closed at $204.775, up $3.675,

Apr 25 Live Cattle  closed at $203.025, up $2.300,

Jun 25 Live Cattle  closed at $197.375, up $1.675,

Jan 25 Feeder Cattle  closed at $278.700, up $1.625,

Mar 25 Feeder Cattle  closed at $276.575, up $2.500,

Apr 25 Feeder Cattle  closed at $275.450, up $3.000,