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.
