Live cattle futures saw Monday losses of $1.60 to $2.75 across the front months on Monday. Cash trade was limited, with some $246-249 in the North and some southern trade up to $249. Feeder cattle futures posted losses of $3 to $3.75. The CME Feeder Cattle Index was down $1.57 to $375.80 on February 20. The weekly OKC feeder cattle auction sold 6,200 head with feeders steady to $3 and lighter weight feeders $10-15 higher, with calves $5 higher on steers and up $25 on heifers.
Cattle on Feed data from Friday afternoon showed 1.736 million head of feeders placed in January, down 4.72% from a year ago and below estimates. Marketings in January were down 13% at 1.626 million head. February 1 on feed totaled 11.505 million head, a drop of 1.8% from last year and below the 1.6% estimated decline.
Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel spread widening to $4.91. Choice boxes were up $2.52 to $369.22, while Select was $3.57 higher to $364.31. USDA estimated Monday’s federally inspected cattle slaughter at 106,000 head. That is 19,000 head above last week and 9,370 head larger than the same week last year.
Feb 26 Live Cattle closed at $244.975, down $1.600,
Apr 26 Live Cattle closed at $239.250, down $2.750,
Jun 26 Live Cattle closed at $235.450, down $2.075,
Mar 26 Feeder Cattle closed at $364.300, down $3.725,
Apr 26 Feeder Cattle closed at $361.350, down $3.700,
May 26 Feeder Cattle closed at $357.975, down $3.025,
