Cattle Market Mixed at Midday

So far for Tuesday, front month fat cattle futures are trading within a dime of UNCH. Feeders are red through midday, giving back $0.90 to $1.60 so far. Last week’s cash market was mostly $142-$143, with the full range of $140 - $144. The 2/17 CME Feeder Cattle Index was firm at $162.14. 

Wholesale Boxed Beef prices from Monday morning were mixed, with Choice $2.07 weaker and Select up by $0.94. That actually flipped the Chc/Sel spread to negative 76 cents, or a Select premium. USDA’s FI cattle slaughter estimate for the week through Saturday was 663,000 head. That is up from 659,000 head last week and was 114k head above the same week last year. 

Feb 22 Cattle  closed at $143.500, up $0.250,

Jun 22 Cattle  closed at $141.550, up $0.050,

Mar 22 Feeder Cattle  closed at $163.950, down $1.475

Apr 22 Feeder Cattle  closed at $169.425, down $1.425