Live cattle futures closed Tuesday’s session with $1.55 to $3.72 gains, flipping the board net higher for the week through the first two sessions. There were no deliveries issued on FND for Feb live cattle futures and none overnight. The CME showed the oldest dated long is now at 4/18/23. There were no cash trades through Tuesday, though USDA confirmed cash business from $173 to $178 last week. 

Front month feeder cattle futures closed the day ~30c off the highs with $2.72 to $3.92 gains. USDA cited good demand in the OKC Feeder Cattle Auction review, citing prices from +$4 to +$10 higher in the feeders and $5 higher in the calves compared to last week. The CME Feeder Cattle Index for 2/5 was a dime stronger at $239.58. 

USDA’s Wholesale Boxed Beef prices were shown 59 cents higher in Choice and 83 cents stronger in Select on Tuesday afternoon. The federally inspected cattle slaughter was 125k head for Tuesday, setting the week’s total at 250k head. That compares to 252k head last week and 244k head during the same week last year.  

Feb 24 Cattle  closed at $183.000, up $3.275,

Apr 24 Cattle  closed at $186.075, up $3.725,

Jun 24 Cattle  closed at $183.125, up $2.650,

Mar 24 Feeder Cattle  closed at $246.675, up $3.925

Apr 24 Feeder Cattle  closed at $251.700, up $3.450