Live cattle futures saw decreases of 22 to 55 cents on Tuesday, February 26, 2023, while feeder cattle futures dropped 40 to 50 cents. Cash trade last week settled at $233 to $236.50 for live cattle and $370 for dressed cattle. As of January 23, the CME Feeder Cattle Index rose slightly by 9 cents to $363.57.
In the wholesale market, the USDA reported mixed Boxed Beef prices, with Choice boxes increasing by 37 cents to $369.27, and Select boxes decreasing by $2.55 to $364.57. The Chc/Sel spread widened to $4.70. Additionally, Monday’s federally inspected cattle slaughter was estimated at 100,000 head—5,000 lower than the previous Monday and 13,256 fewer than the same week last year.
