Live cattle futures kept to a relatively tighter range on Tuesday, with April printing a $1 range. Most of that was spent in the red, though the board was within 52 cents of UNCH at the close. Deferred feeder contracts were also firmer for the bell, though the front months were 2 to 52 cents in the red. USDA reported feeder cattle sales in the OKC auction totaled 6.4k head with prices $2-$3 above last week. The CME Feeder Cattle Index was 16 cents stronger for 3/18 at $251.02, now a premium to the futures.
USDA’s Boxed Beef prices for Tuesday afternoon were shown at $313.22 in Choice and at $303.18 in Select. For Choice that was an 11 cent drop, while Select was up by 13 cents. USDA reported the Tuesday FI cattle slaughter at 122k head for a week to date total of 242,000. That compares to 233k head last week and to 251k head during the same week last year.
Apr 24 Cattle closed at $188.050, down $0.525,
Jun 24 Cattle closed at $185.000, down $0.400,
Aug 24 Cattle closed at $184.025, down $0.325,
Mar 24 Feeder Cattle closed at $250.675, down $0.525
Apr 24 Feeder Cattle closed at $255.075, down $0.025
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