Live cattle ended Tuesday with $1.15 to $3.42 gains. Feeder cattle futures were up by over $3 across the front months, as the March contract led the way with a 1.5% gain. USDA confirmed 13.4k head of cash cattle trades for last Thursday, with the bulk near $172 (up $1-$2 for the week). Tuesday activity mostly consisted of collecting show lists. The CME Feeder Cattle Index for was $1.73 weaker for 12/28 to $215.98.
USDA’s Wholesale Boxed Beef prices dropped on Monday, with a $5.37/cwt average decline in Choice carcasses and a $1.47 loss for Select. The FI cattle slaughter was 126k head for Tuesday, compared to 100k head from last week. In both cases there was no activity on the Monday holidays.
Dec 23 Cattle closed at $173.675, up $2.475,
Feb 24 Cattle closed at $171.925, up $3.425,
Apr 24 Cattle closed at $174.500, up $2.250,
Jan 24 Feeder Cattle closed at $225.425, up $3.125
Mar 24 Feeder Cattle closed at $226.450, up $3.350
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