Live cattle futures are showing $2.30 to $2.60 gains in the front months on Tuesday, as the equities claw back some gains. Cash trade has yet to see much action this week as last week settled in at $240 across most of the country. Feeder cattle futures are up $3.65 to $4 at midday. The CME Feeder Cattle Index was down another $1.47 to $366.39 on March 5. The Monday OKC feeder cattle auction showed 4,303 head sold, with feeders down $10 to $20.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread widening to $10.22. Choice boxes were up $6.33 to $397.62, while Select was $3.78 higher to $387.40. USDA estimated federally inspected cattle slaughter for Monday at 103,000 head. That is 1,000 head above the previous week but 11,935 head shy of the same week last year.
Apr 26 Live Cattle are at $232.450, up $2.300,
Jun 26 Live Cattle are at $230.025, up $2.600,
Aug 26 Live Cattle are at $228.150, up $2.575,
Mar 26 Feeder Cattle are at $354.300, up $3.650
Apr 26 Feeder Cattle are at $350.425, up $3.875
May 26 Feeder Cattle are at $346.850, up $3.975
