Live cattle futures are 72 cents to $1.10 lower on Tuesday. Cash trade was picked up last week at $248 across the country. Early action this week has been quiet with a few bids of $246 floating around in KS. Feeder cattle futures are down $1.05 to $2.05 at midday. The CME Feeder Cattle Index was down $1.98 to $375.69 on April 17. The OKC feeder cattle auction had 5,867 head sold with feeders steady to $2-4 lower.
Wholesale Boxed Beef prices were lower in the Tuesday report, with the Chc/Sel at $2.01 premium for select. Choice boxes were up $3.49 to $387.05, while Select was $5.45 higher at $389.06. USDA estimated federally inspected cattle slaughter at 97,000 head for Monday. That is down 7,000 head from last week but 6,945 head below the same week last year.
