**Live Cattle and Feeder Cattle Market Overview**
On Thursday, live cattle futures dropped between $5 and $6.20, closing at $235.250 for February contracts. The Fed Cattle Exchange auction reported no sales from 1,602 head offered, with cash bids ranging from $235 to $236. Feeder cattle futures also declined, with March contracts closing at $364.075, down $6.00.
In related news, workers at the JBS plant in Greeley, CO, which processes approximately 5,000 head daily, voted to authorize a strike, though a start date has not been announced. The USDA reported beef sales of 19,748 MT for the week ending January 29, marking the highest weekly sales for the year, with South Korea and Japan as the top buyers.
Additionally, wholesale boxed beef prices fell, with Choice boxes at $367.25 and Select boxes at $360.37. USDA data indicates a total slaughter of 114,000 cattle on Thursday, bringing the week’s total to 450,000, which is 14,000 head higher than last week but 23,336 head lower than the same week last year.
