Live cattle futures rallying on Tuesday, with contracts up $2.05 to $2.80 at midday. Cash trade from last week was at $232-233 across the country, with a few Monday sales at $233. Feeder cattle futures are $3.95 to $5.70 higher so far on Tuesday. The CME Feeder Cattle Index was back up 66 cents to $368.56 on January 9. The Monday OKC feeder cattle auction had 11,549 head for sale, with feeder steers steady to $2 lower and heifers firm to $4 higher. Calves were up $8-12 for steers and steady for heifer calves.
USDA Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread narrowing to now a $1.02 premium for Select. Choice boxes were up 91 cents to $358.02, while Select was 99 cents higher at $359.04. Monday’s USDA federally inspected cattle slaughter was estimated at 114,000 head. That was 1,000 head below last week and 2,916 shy of the same week last year.
