Live cattle futures posted gains of $2.30 to $3.47. Cash trade was slow to get kicked off this week, as things settled in at 245-246 in the North and up to $248-249 in the South. Feeder cattle futures closed out the Tuesday trade with contracts up $4.35 to $4.85. The CME Feeder Cattle Index was up $0.99 to $376.07 on February 16. Monday’s OKC feeder cattle auction showed sales on 6,698 head, with price action steady to $4 higher for feeder steers and $5-10 higher on heifers.
Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel spread tightening to $4.54 Choice boxes were down $3.01 to $364.76, while Select was $1.01 lower at $360.22. USDA estimated Tuesday’s federally inspected cattle slaughter at 115,000 head, taking the weekly total to 202,000 head. That is 21,000 head above last week and 8,025 head below the same week last year.
Feb 26 Live Cattle closed at $246.550, up $3.475,
Apr 26 Live Cattle closed at $242.800, up $2.175,
Jun 26 Live Cattle closed at $238.450, up $2.300,
Mar 26 Feeder Cattle closed at $370.975, up $4.825,
Apr 26 Feeder Cattle closed at $367.825, up $4.375,
May 26 Feeder Cattle closed at $363.800, up $4.375,
