Cattle futures gave back the initial triple digit gains on Monday to close 37 to 57 cents weaker. Feb cattle ended the day down by $1.07. Front month feeder cattle also gave back their initial gains on Monday and closed down by as much as $1.12. Cash sales for last week were confirmed near $175 in the South. The OKC Feeder Auction Review had 10k head sold, with prices up by $10-$15 for calves. The listings included 44% steers/53% heifers, and 32% +600lbs. USDA had sales from $173 to $177 for the week with the bulk of action near $175. The 1/26 CME Feeder Cattle Index was $234.15, up by another $2.09.
USDA quoted Boxed Beef prices as $1.11 weaker for Choice at $299.42, while Select was 31 cents lower to $288.82. USDA reported FI cattle slaughter at 125k head for Monday, compared to 115k head last week and 120k during the same week last year.
Feb 24 Cattle closed at $177.375, down $1.075,
Apr 24 Cattle closed at $181.225, down $0.450,
Jun 24 Cattle closed at $178.475, down $0.375,
Mar 24 Feeder Cattle closed at $238.625, down $1.075
Apr 24 Feeder Cattle closed at $244.600, down $1.000
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