Live cattle futures ended the Tuesday session with contracts mixed, steady to 30 cents lower in the nearbys and higher in the deferreds. Cash action from last week was mainly $202-203 in the South and $203 in the North.

Feeder cattle futures were rallying on Tuesday, with contracts pushing $2.20 to $3.37 higher across most contracts. The CME Feeder Cattle Index was $1.69 higher on February 17 to $277.99. The weekly OKC Feeder cattle auction showed 3,169 head sold with price action listed as steady. There were reports of additional cattle testing positive for new world screwworm in Mexico, though the USDA stated they would not restrict imports of cattle after updating inspection and treatment protocols. 

The Tuesday afternoon National Wholesale Boxed Beef report showed another round of mixed trade with a widening Chc/Sel spread to $12.06. Choice boxes were 7 cents higher at $315.77/cwt, with Select down another $2.52 to $303.71.  USDA’s Federally inspected cattle slaughter for Tuesday was estimated at just 118,000 head, taking the weekly total to 213,000 head. That is down 4,000 head from the previous week and Monday and 12,683 head below the same week last year.

Feb 25 Live Cattle  closed at $197.450, down $0.300,

Apr 25 Live Cattle  closed at $194.025, down $0.225,

Jun 25 Live Cattle  closed at $190.400, down $0.050,

Mar 25 Feeder Cattle  closed at $269.725, up $3.375,

Apr 25 Feeder Cattle  closed at $269.100, up $2.675,

May 25 Feeder Cattle  closed at $267.325, up $2.325,