Live cattle futures are steady at midday, with front months within 20 cents of unchanged. February was down $1.15 last week. Cash trade last week was reported at $229-230. Feeder cattle futures are trading with $1.85 to $2.30 gains on Monday. CME’s Feeder Cattle Index was back down $4.69 to $349.32 on December 25.
USDA Wholesale Boxed Beef prices were higher in the Monday AM report, with the Chc/Sel spread narrowing to $6.03. Choice boxes were u p$1.57 to $352.78, while Select was $2.95 higher at $346.75. USDA federally inspected cattle slaughter was estimated at 429,000 head for last week. That was well below the week prior, but 4,042 head shy of the same week last year.
Dec 25 Live Cattle are at $229.825, unch,
Feb 26 Live Cattle are at $229.550, down $0.100,
Apr 26 Live Cattle are at $229.875, up $0.175,
Jan 26 Feeder Cattle are at $348.050, up $1.875
Mar 26 Feeder Cattle are at $342.700, up $2.275
Apr 26 Feeder Cattle are at $341.500, up $2.300
