Live cattle futures experienced gains on Tuesday, February 26, rising by $2.10 to $2.40 at the Chicago Mercantile Exchange (CME). Cash trade last week settled nationally at $238-240 live and $375-378 dressed. Feeder cattle futures also posted increases, with gains between $1.57 and $2.05. The CME Feeder Cattle Index was up $3.82, reaching $374.41. In the latest auction at OKC, 2,624 feeder cattle were sold, with prices for feeder steers up $4-12 and feeder heifers up $3-8.
The USDA reported federal cattle slaughter figures for Tuesday at 115,000 head, bringing the week’s total to 223,000. This number is 11,000 head higher than last week but 12,481 head lower than the same week last year. Meanwhile, wholesale boxed beef prices were mixed, with choice boxes up $2.50 to $370.71 and select boxes $2.32 higher at $367.23.
