Live cattle futures are showing $1.32 to $1.87 in the nearby contracts. Cash trade settled in last week at $238-240 live across the country and $375-378 dressed. Early action this week has been quiet with most compiling showlists. Feeder cattle futures are trading with $1.40 to $1.67 higher. The CME Feeder Cattle Index was up another $3.82 to $374.41 on January 30. Monday’s OKC feeder cattle auction showed 2,624 head sold, with sales up $4-12 for feeder steers and $3-8 higher on feeder heifers, with calves reported steady.
Wholesale Boxed Beef prices were mixed in the Tuesday AM report, with the Chc/Sel spread narrowing to $3.11. Choice boxes were up $2.66 to $370.87, while Select was $2.85 higher at $367.76. USDA reported federally inspected cattle slaughter at 108,000 head for Monday. That was 8,000 head above last Monday but 5,428 head shy of the same Monday last year.
