Live cattle futures experienced losses on Tuesday, with contracts down 35 to 60 cents; February futures closed at $235.600. Cash trade remains inactive this week, following last week’s range of $233 to $236.50 live and $370 dressed. Meanwhile, feeder cattle futures also saw declines, down 50 to 60 cents, with January futures up slightly by 15 cents.
The USDA’s wholesale Boxed Beef report revealed weaker prices, with Choice boxes dropping 79 cents to $368.11, while Select boxes decreased by $1.93 to $365.19. The Chc/Sel spread widened to $2.92. Additionally, Tuesday’s USDA federally inspected cattle slaughter was estimated at 112,000 head, bringing the weekly total to 212,000—7,000 head lower than the previous week and 24,878 head fewer than the same week last year.
