Live cattle futures are up $1.35 to $1.55. Cash trade settled in at $234-236 live last week, with some $372 dressed. Feeder cattle futures are rallying $3.55 to 4.70 at midday. The CME Feeder Cattle Index was down another $1.30 to $357.05 on March 13. The Monday OKC Feeder cattle auction saw sales on 4,305 head sold, with sales 10-15 higher on feeders and calves up $10-20 for steers and $5-15 for heifers.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread at $4.74. Choice boxes were up $1.08 to $403.74, while Select was $4.49 higher to $399.00. USDA estimated federally inspected cattle slaughter for Monday at 98,000 head. That is down 5,000 from the previous week and 16,452 head shy of the same Monday last year.
