Live cattle futures are trading with $1.52 to $2.10 gains at midday. December expires on Wednesday. Cash trade last week was reported at $229-230. This week has been quiet so far, with the Tuesday morning Fed Cattle Exchange showed dressed sales of $355 on 40 of the 1,278 head offered, with bids of $225. Feeder cattle futures are up another $2.55 to $2.90 at Tuesday’s midday. 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 Tuesday AM report, with the Chc/Sel spread narrowing to $2.83. Choice boxes were down another 82 cents to $348.51, while Select was 6 cents higher at $345.68. 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.
