Cattle Surge Toward the End of Monday’s Session

Cattle Market Update: Monday's Performance

Live cattle futures ended Monday on a positive note, with prices rising between 30 and 90 cents. Cash transactions concluded late last week, featuring Southern deals at $244 and Northern trades ranging from $239 to $243. Feeder cattle futures also rebounded, overcoming earlier declines to finish $1.85 to $2.30 higher. As of February 27, the CME Feeder Cattle Index dropped by 97 cents to $371.82. At the Oklahoma City feeder cattle auction, 5,500 head were offered, with feeder steers selling $2 to $8 lower and heifers down $4 to $10. Calves experienced larger declines, with steers $5 to $15 lower and heifers down $10 to $20.

Wholesale Boxed Beef prices increased in Monday afternoon's report, narrowing the Choice/Select spread to $3.13. Choice cuts gained $1.50 to reach $381.34, while Select advanced $3.90 to $378.21. The USDA estimated federally inspected cattle slaughter at 102,000 head for Monday, which is 4,000 fewer than the previous week and 2,764 less than the same day last year.

Closing Prices

• April 26 Live Cattle closed at $233.100, up $0.875
• June 26 Live Cattle finished at $229.650, up $0.500
• August 26 Live Cattle settled at $228.175, up $0.375
• March 26 Feeder Cattle ended at $357.275, up $1.850
• April 26 Feeder Cattle closed at $353.325, up $2.125
• May 26 Feeder Cattle finished at $349.475, up $2.275