Live cattle futures are down 7 to 65 cents in the front months so far on Tuesday, giving back some of the Monday limit gains. Last week’s cash trade was reported at $225-230 in the north, with $230-232 Southern sales. Monday activity was quiet with showlists being compiled. Feeder cattle futures are extending the bounce, up 2.50 to $3.95 at midday . The CME Feeder Cattle Index was back down $1.86 to $344.37 on November 6. The weekly OKC feeder cattle auction had 6,113 head for sale, with feeders steady to $5 lower. Steer calves were $5-10 lower, with heifers steady. Tuesday has expanded limits of $10.75 for live cattle and $13.75 for feeders.
USDA Wholesale Boxed Beef prices are seeming to ignore the President’s post from last week as consumers keep buying, with a higher Tuesday AM print. Choice boxes were up $3.10 to $380.42, while Select was 70 cents higher at $360.40. USDA federally inspected cattle slaughter for Monday was at 113,000 head. That is 4,000 head above last Monday and 713 head above the same week last year.
