Live cattle futures experienced gains of 10 to 90 cents at midday on Tuesday, with cash trade last week reporting Southern prices at $244 and Northern sales between $239 and $243. No transactions have been reported for this week so far. The CME Feeder Cattle Index fell by 97 cents to $371.82 on February 27, and the OKC feeder cattle auction on Monday noted 5,946 head sold, with prices for feeder steers down $2-8 and heifers declining $4-10. Calves decreased by $5-15 for steers and by $10-20 for heifers.
Wholesale Boxed Beef prices saw an increase in Tuesday’s morning report, with Choice boxes rising by $6.60 to $387.94 and Select up $1.53 to $379.74, widening the Chc/Sel spread to $8.20. The USDA estimated federally inspected cattle slaughter for Monday at 102,000 head, which is 4,000 head below the previous week and 2,764 head lower than the same Monday last year.
