Live cattle futures rose by $1.35 to $1.55, with cash trade last week settling between $234 and $236 live and $372 dressed. Meanwhile, feeder cattle futures increased by $3.55 to $4.70. The CME Feeder Cattle Index declined by $1.30 to $357.05 on March 13, while the OKC Feeder cattle auction reported sales of 4,305 head, with prices for feeders up 10-15% and calf prices increasing by $10-20 for steers and $5-15 for heifers.
Wholesale boxed beef prices also saw gains, with Choice boxes rising by $1.08 to $403.74 and Select boxes up $4.49 to $399.00. The USDA estimated Monday’s federally inspected cattle slaughter at 98,000 head, down 5,000 from the previous week and 16,452 head fewer than the same Monday last year.
