Cattle Push Higher on Monday

Live cattle futures posted Monday gains of 32 cents to $1.25 at the close. Cash trade from last week settled in at $235-236 sales in the North and $235 in the South. Feeder cattle futures were 70 cents to $2.37 higher across the board. The CME Feeder Cattle Index was back down 73 cents to $361.33 on March 20. The weekly OKC feeder cattle auction has an estimated 5,500 head for sale, with steers steady on the feeders and up $5-15 for calves. Heifers were firm to $5 higher. 

Cattle on Feed data from Friday afternoon showed a total of 1.611 million head of feeders placed in lots over 1,000 head during February, a 3.67% increase yr/yr. Marketings totaled 1.522 million head, down 7.8% vs. last year. That took the March 1 on feed inventory to 11.549 million head, a 0.24% drop yr/yr and compares to a 1.86% decline on Feb 1.

Wholesale Boxed Beef prices were mixed in the Monday afternoon report, with the Chc/Sel spread at $5.30. Choice boxes were down 98 cents to $399.13, while Select was 89 cents higher to $393.83. USDA estimated federally inspected cattle slaughter on Monday at 105,000 head. That was up 7,000 head from last Monday and 12,638 head below the same week last year.  

Apr 26 Live Cattle  closed at $235.300, up $1.250,

Jun 26 Live Cattle  closed at $234.650, up $1.225,

Aug 26 Live Cattle  closed at $231.750, up $0.925,

Mar 26 Feeder Cattle  closed at $358.450, up $0.700,

Apr 26 Feeder Cattle  closed at $352.475, up $1.300,

May 26 Feeder Cattle  closed at $348.350, up $1.975,