Live Cattle Futures in Rally Mode

Live cattle futures were in rally mode, with contracts up $2 tp $3 on the Tuesday session. Cash trade has yet to get fully kicked off this week, as last week was $232-233 across the country. Feeder cattle futures posted gains of $4.22 to $6.15 across the nearbys on Tuesday. The CME Feeder Cattle Index was back up 56 cents to $369.12 on January 12.  The Monday OKC feeder cattle auction had 11,549 head for sale, with feeder steers steady to $2 lower and heifers firm to $4 higher. Calves were up $8-12 for steers and steady for heifer calves.

USDA Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel spread widening back out to 81 cents. Choice boxes were up 88 cents to $357.99, while Select was 87 cents lower at $357.18. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, taking the week to date total to 232,000. That was 1,000 head below last week and 8,688 shy of the same week last year.

Feb 26 Live Cattle  closed at $237.250, up $2.000,

Apr 26 Live Cattle  closed at $238.975, up $2.900,

Jun 26 Live Cattle  closed at $233.400, up $2.800,

Jan 26 Feeder Cattle  closed at $366.275, up $4.225,

Mar 26 Feeder Cattle  closed at $362.125, up $5.950,

Apr 26 Feeder Cattle  closed at $360.600, up $6.150,

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