Live cattle futures were up 75 cents to $1.525 on Monday. Cash trade settled in a at $232-233 across the country last week. Feeder cattle futures posted Monday gains of $1.32 to $1.50 in the front months. The CME Feeder Cattle Index was back up 66 cents to $368.56 on January 9. The Monday OKC feeder cattle auction had 11,500 head for sale, with feeder steers steady to $2 lower and heifers firm to $4 higher. Calves were up $8-12 for steers and steady for heifer calves.
USDA Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel spread narrowing to now a 94 cent premium for select. Choice boxes were up $1.48 to $357.11, while Select was $5.88 higher at $358.05. Monday’s USDA federally inspected cattle slaughter was estimated at 114,000 head. That was 1,000 head below last week and 2,916 shy of the same week last year.
