Live cattle saw most contracts steady to 62.5 cents higher on Monday. Feeder cattle futures were up 50 to 77.5 cents. The CME feeder cattle index was up 4 cents on February 8 at $141.73. Wholesale boxed beef prices were higher on Monday afternoon. The Ch/Se spread narrowed to $3.02. Choice boxes were up $1.53 at $216.88 with Select $2.69 higher at $213.86. Monday’s USDA estimated FI cattle slaughter was at 116,000 head. That is down 2,000 head from last week but 5,000 larger than the same week last year. Last Saturday’s estimated slaughter was revised to 35,000 head, which brought the weekly total 7,000 head higher to 620,000 head. A majority of last week’s cash trade was reported around $125 on Friday, up $1 from the week prior.
--provided by Brugler Marketing & Management