Cattle Prices Show Mixed Results on Tuesday

Cattle Market Update: Mixed Results on Tuesday

Live cattle futures ended Tuesday with increases ranging from $0.70 to $1.02. Cash transactions were finalized late last week, with Southern regions trading at $244 and Northern deals falling between $239 and $243. There have been no new cash trades reported so far this week. Feeder cattle futures remained mostly unchanged, with some contracts slipping by up to $0.20. The CME Feeder Cattle Index dropped further, losing $2.23 to settle at $369.59 as of March 2.

At the Oklahoma City feeder cattle auction on Monday, 5,946 head were sold. Prices for feeder steers declined by $2 to $8, while heifers saw decreases of $4 to $10. Calves experienced even steeper drops, with steers down $5 to $15 and heifers falling $10 to $20.

Wholesale Beef and Slaughter Data

Wholesale boxed beef prices moved higher in Tuesday afternoon's report, with the Choice-Select spread expanding to $9.47. Choice boxed beef climbed $6.71 to reach $388.05, and Select increased $0.37 to $378.58. According to USDA estimates, federally inspected cattle slaughter on Tuesday totaled 109,000 head, bringing the week-to-date figure to 211,000 head. This is 6,000 head fewer than the previous week and 14,835 head below the same period last year.

Recent Cattle Futures Settlements

• April 26 Live Cattle closed at $234.125, up $1.025
• June 26 Live Cattle closed at $230.675, up $1.025
• August 26 Live Cattle closed at $228.900, up $0.725
• March 26 Feeder Cattle closed at $357.200, down $0.075
• April 26 Feeder Cattle closed at $353.300, down $0.025
• May 26 Feeder Cattle closed at $349.350, down $0.125