Live cattle futures were back up $2.20 to $2.80 on the Tuesday close. Open interest was down 680 contracts on Tuesday. Cash trade has yet to see much action this week, with $372 dressed reported, down from $380 last week and $240 live. Feeder cattle futures saw higher trade on Tuesday, with contracts up $2.70 to $3.55 at the close. The CME Feeder Cattle Index was down another $0.62 to $365.77 on March 9.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread widening to $7.90. Choice boxes were up $3.38 to $394.67, while Select was $3.15 higher to $386.77. USDA estimated federally inspected cattle slaughter for Tuesday at 108,000 head, with the week to date total at 211,000 head. That is steady from the previous week but 28,002 head shy of the same week last year.
