Live cattle futures have decreased by $2 to $4.12 midday, with an increase of 2,199 contracts in selling interest. Cash trade prices are reported at $383 dressed in the North and around $243-245 live across other regions. Feeder cattle futures dropped between $6.25 and $8.25. The CME Feeder Cattle Index also saw a decline of $1.62, settling at $373.17 on February 24.
In related news, the USDA reported 103,000 head of cattle were inspected for slaughter on Thursday, totaling 427,000 head for the week, which is 33,333 head lower than the same period last year. The wholesale boxed beef prices are trending upwards, with Choice boxes increasing by $1.08 to $378.97 and Select boxes rising by $3.44 to $374.23. Additionally, the APHIS reported 8 new cases of New World Screwworm in Tamaulipas, bringing the total active cases in the state to 10.
