Live cattle futures are experiencing a decline, dropping between $1.50 and $1.70 at midday on Friday, with cash trade reported at $233 in the North and $232 in the South. The Fed Cattle Exchange saw no sales, with bids between $230 and $231. Feeder cattle futures are down $2.30 to $3.60. The CME Feeder Cattle Index increased by $4.92 to $368.07 on January 7.
The USDA’s Friday morning report indicated lower wholesale boxed beef prices, with Choice boxes priced at $355.24 (down $1.55) and Select at $351.44 (down $0.62). Cattle slaughter was estimated at 117,000 head on Thursday, totaling 465,000 for the week—10,732 head lower than the same period last year.
Current prices for live cattle are as follows: Feb 26 at $233.65 (down $1.625), Apr 26 at $234.53 (down $1.700), and Jun 26 at $229.60 (down $1.675). Feeder cattle prices are: Jan 26 at $360.18 (down $2.30), Mar 26 at $354.45 (down $3.275), and Apr 26 at $353.05 (down $3.575).
