Live cattle futures are up $3.97 to $4.60 so far on Tuesday. Cash trade has yet to take place this week. Last week was $220 in the South, with some northern trade at $208-210. Feeder cattle futures are rallying, with $7.50 to $7.90 gains on Tuesday and coming off early limit higher moves. The CME Feeder Cattle Index was up 94 cents to $319.70 on November 28. Monday’s OKC auction had 4,248 head sold with feeders steers up $8-15 and heifers up $15-25. Calves were $20-30 higher.
USDA reported Wholesale Boxed Beef prices lower in the Friday PM report, with the Chc/Sel spread widening to $13.06. Choice boxes were up $2.69 to $366.20, while Select was $4.74 lower at $353.14. USDA federally inspected cattle slaughter was estimated at 115,000 head for Monday. That was 5,000 head below last week and 1,388 head shy of the same week last year.
