Live cattle futures saw gains of 70 cent to $1.02 at the Tuesday close. Cash trade was late last week, with Southern action at $244 and Northern sales from $239-243. Nothing has been reported so far this week. Feeder cattle futures were steady to 20 cents in the red on Tuesday. The CME Feeder Cattle Index was down another $2.23 to $369.59 on March 2. The OKC feeder cattle auction on Monday showed 5,946 head sold, with feeder steers $2-8 lower and heifers down $4-10. Calves were down $5-15 for steers and 10-20 lower on heifers.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread widening to $9.47. Choice boxes were up $6.71 to $388.05, while Select was $0.37 higher to $378.58. USDA estimated federally inspected cattle slaughter for Tuesday at 109,000 head, with the week to date total at 211,000 head. That is 6,000 head below the previous week and 14,835 head shy of the same week last year.
Apr 26 Live Cattle closed at $234.125, up $1.025,
Jun 26 Live Cattle closed at $230.675, up $1.025,
Aug 26 Live Cattle closed at $228.900, up $0.725,
