Live cattle futures are showing $2.30 to $2.60 gains in the front months on Tuesday, as the equities claw back some gains. Cash trade has yet to see much action this week as last week settled in at $240 across most of the country. Feeder cattle futures are up $3.65 to $4 at midday. The CME Feeder Cattle Index was down another $1.47 to $366.39 on March 5. The Monday OKC feeder cattle auction showed 4,303 head sold, with feeders down $10 to $20.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread widening to $10.22. Choice boxes were up $6.33 to $397.62, while Select was $3.78 higher to $387.40. USDA estimated federally inspected cattle slaughter for Monday at 103,000 head. That is 1,000 head above the previous week but 11,935 head shy of the same week last year.
