Live cattle futures experienced gains of $1.10 to $1.50 on Monday, February 7, marking the first notice day for February contracts, with no deliveries issued. Cash trade last week saw prices of $208 in the North and $206 in the South, the latter down $2 from the previous week.
Feeder cattle futures also increased, with prices rising by $2.70 to $3.25. The CME Feeder Cattle Index reached $275.76, up 17 cents from the prior day. The OKC weekly feeder cattle auction reported around 4,743 head for sale, nearly half of last week’s offering and down compared to the same period last year.
In USDA reports, the wholesale Boxed Beef prices rose, with Choice boxes at $323.50 per cwt, up $1.63, and Select at $313.92, up $1.02. Estimated federally inspected cattle slaughter was 100,000 head, 15,000 below last week and down from last year by 14,805 head.
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