Live cattle futures closed Tuesday with gains of 50 to 75 cents. Cash trade has been quiet so far this week with last week reported at $232-233 across the country. Feeder cattle futures posted another rally of $3.20 to $3.45 across most contracts on Tuesday. The CME Feeder Cattle Index was up another $9.26 to $362.37 on January 5. The Monday OKC feeder cattle auction had an estimated 9,266 head sold, with sales of $3-10 higher on feeder steers and heifers up $10-20. Calves were up $15-20.
USDA Wholesale Boxed Beef prices were lower in the Tuesday PM report, with the Chc/Sel spread tightening to 17 cents. Choice boxes were down $2.45 to $351.25, while Select was 42 cents lower at $351.08. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, with the week to date total at 233,000 head. That was a 7,000 head drop from last week but 9327 head below last year.
