Live cattle futures were 17 to 92 cents lower on Monday. December expires on Wednesday. Cash trade last week was reported at $229-230. Feeder cattle futures slopped into the close, but still managed to close with gains of 82 cents to $1.25. CME’s Feeder Cattle Index was back up $6.68 to $356.00 on December 26.
USDA Wholesale Boxed Beef prices were mixed in the Monday PM report, with the Chc/Sel spread narrowing to $3.71. Choice boxes were down $1.88 to $349.33, while Select was $1.82 higher at $345.62. Monday’s USDA federally inspected cattle slaughter was estimated at 118,000 head. That was 3,000 head below the week prior and 4,091 head shy of the same week last year.
