Live cattle futures declined by 17 to 92 cents on Monday, with the December contract expiring on Wednesday. Cash trade last week ranged from $229 to $230 per hundredweight. In contrast, feeder cattle futures closed higher, gaining between 82 cents and $1.25. As of December 26, CME’s Feeder Cattle Index increased $6.68 to $356.00.
In the USDA’s latest report, Wholesale Boxed Beef prices showed mixed results. The Choice boxes decreased by $1.88 to $349.33, while Select boxes rose by $1.82 to $345.62, narrowing the Chc/Sel spread to $3.71. Additionally, the estimated USDA federally inspected cattle slaughter for Monday was 118,000 head, which is 3,000 head lower than the previous week and down 4,091 head from the same week last year.
