Cattle Retreat on Tuesday

Cattle Futures Decline on Tuesday

On Tuesday, live cattle futures ended the session with losses, dropping between 35 and 60 cents. Cash trading activity has not yet begun for the week, following last week's established prices of $233 to $236.50 for live cattle and $370 for dressed cattle. Feeder cattle futures also experienced mostly negative movement, closing down by 50 to 60 cents, except for the soon-to-expire January contract, which edged up by 15 cents. The CME Feeder Cattle Index rose by $1.16 to reach $364.73 as of January 26.

The USDA's afternoon Boxed Beef report indicated softer prices, with the Choice-Select spread widening to $2.92. Choice boxed beef dropped by 79 cents to $368.11, while Select boxes fell $1.93 to $365.19. Tuesday's federally inspected cattle slaughter was estimated at 112,000 head, bringing the weekly total to 212,000 head. This figure is 7,000 head fewer than the previous week and 24,878 head below the same period last year.

Closing Prices for Key Contracts

• February 26 Live Cattle settled at $235.600, down $0.425
• April 26 Live Cattle finished at $237.400, down $0.600
• June 26 Live Cattle closed at $233.250, down $0.375
• January 26 Feeder Cattle ended at $366.850, up $0.150
• March 26 Feeder Cattle settled at $362.000, down $0.600
• April 26 Feeder Cattle finished at $360.650, down $0.550