Live cattle futures were off their lows, by as much as $1, for the close on Monday but were still triple digits lower with losses of up to $1.52. Feeder cattle also fell by triple digits with $1.05 to $2.37 losses on Monday. USDA had last week’s cash trade as mostly near $188 in the South and mostly near $190 in the North. The 3/22 CME Feeder Cattle Index was $251.70, a 32 cent increase.
NASS Cold Storage data showed 442.75 million lbs of beef was in the freezer in Feb. That was a 6% drop from Jan stocks and was the tightest February supply since 2014.
USDA’s Wholesale Boxed Beef prices averaged $310.89 for Choice on Monday afternoon and at $301.96/cwt. for Select. That was a 17 cent increase for Choice and a 49c increase for Select. Monday’s FI cattle slaughter was 118k head, which starts the week 2000 behind last week and 6000 head behind the same week last year.
Apr 24 Cattle closed at $186.200, down $1.300,
Jun 24 Cattle closed at $181.600, down $1.300,
Aug 24 Cattle closed at $179.975, down $1.525,
Mar 24 Feeder Cattle closed at $249.450, down $0.500
Apr 24 Feeder Cattle closed at $250.450, down $1.050
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