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February live cattle futures ended the day with a loss of more than $3 as they went into expiration, but the new lead month rallied $1.90 on the day. Feeders were lower in the morning but recovered with nice gains as well and traders rolled into future months and likely squared positions not only for the week but for the month. The CME feeder cattle index reported for Feb. 26 is $207.72, down 55 cents. The Choice boxed beef price averaged $247.58, a gain of 55 cents, and Select, up 67 cents at $245.57. Weekly slaughter is estimated at 523,000 head, up 2K from a week ago, but off 47K head from the same period a year ago. For the week, live cattle gained $3.45 and feeders, $2.73. Boxed beef prices for Choice were up 3.1% from Friday to Friday, and Select boxes gained 3.4%.
Feb 15 Cattle closed at $158.000, down $3.125,
Apr 15 Cattle closed at $151.700, up $1.900,
Jun 15 Cattle closed at $143.850, up $0.900,
Mar 15 Feeder Cattle closed at $201.900, up $1.600
Apr 15 Feeder Cattle closed at $200.325, up $1.275
May 15 Feeder Cattle closed at $198.875, down $0.050