Live cattle futures got a Thursday pop, with contracts up 57 cent to $1.50 in the front months. There have yet to be any deliveries against February futures, with Friday the contract expiration. Cash sales have been reported this week, with light action in the south at $197 and $198 in the North. Thursday morning’s Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,826 head offered, with bids of $198 using the BidTheGrid™ method. Feeder cattle continue to be the bull leaders, with contracts up another $2 to $2.15  in the nearbys on Thursday. The CME Feeder Cattle Index was back up 91 cents on February 26, with the average price at $279.64.  

USDA’s Export Sales report from this morning showed a drop from last year at 18,225 MT in the week of 2/20. South Korea was the buyer of 8,600 MT, with 2,500 MT sold to Japan. Export shipments were tallied at 14,745 MT, which was up slightly from last week. The top destination was South Korea, at 4,000 MT, with 3,600 MT to Japan.

National Wholesale Boxed Beef prices from USDA were back lower in the Thursday PM report, with the Chc/Sel spread back down to $9.05. Choice boxes were down $1.72 at $311.18/cwt, with Select $1.11 lower to $302.13. The Thursday Federally inspected cattle slaughter was estimated at 118,000 but the USDA, with the weekly total at 457,000 head. That is 10,000 head above the previous week but still down 33,155 head from the same week last year.

Feb 25 Live Cattle  closed at $199.400, up $0.575,

Apr 25 Live Cattle  closed at $196.125, up $1.500,

Jun 25 Live Cattle  closed at $192.325, up $1.050,

Mar 25 Feeder Cattle  closed at $276.450, up $2.075,

Apr 25 Feeder Cattle  closed at $275.550, up $2.025,

May 25 Feeder Cattle  closed at $273.975, up $2.150,