Live cattle futures are posting mixed trade on Tuesday, with contracts anywhere from 30 cents lower to 35 cents higher. Cash trade last week came in at $200-201 in the South, with sales reported of $202-205 on NE. Feeder cattle futures are up 67 cents in the nearby January contracts and down in other nearbys. The CME Feeder Cattle Index was back down $1.25 from the day prior at $277.06 on January 16. Monday’s OKC Feeder Cattle auction showed sales of 7,205 head, with heavier feeder steers $2-4 lower and lighter weight up $1-4 and feeder heifers steady to $5 lower. Calves were steady to up $4.

Large managed money spec traders in live cattle futures and options added 3,965 contracts to their net long as of last Tuesday, to 147,421 contracts. Speculators in feeder cattle futures and options added 2,365 contracts in the week of January 14 to a new record net long of 28,749 contracts. 

USDA wholesale Boxed Beef prices were mixed in the Tuesday AM report, with the Chc/Sel spread tightening to $11.16. Choice boxes were down at $332.55/cwt, with Select $1.96 higher @ $321.40. USDA estimated federally inspected cattle slaughter on Monday at 115,000 head. That is 2,000 head below last week and up 3,177 head from the same week last year.

Feb 25 Live Cattle  are at $196.875, up $0.125,

Apr 25 Live Cattle  are at $197.200, down $0.300,

Jun 25 Live Cattle  are at $192.550, up $0.350,

Jan 25 Feeder Cattle  are at $274.175, up $0.675

Mar 25 Feeder Cattle  are at $267.800, down $0.250

Apr 25 Feeder Cattle  are at $267.325, down $0.800