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Live cattle futures settled with gains from $1.825 to as much as $2.275 in the February contract, making it a turnaround Tuesday after triple digit losses were posted on Monday. Feeder futures also posted a sharp rebound with most contracts $1.65 to $1.80 higher on the day after losing more than $3.00 yesterday. The CME Feeder Cattle Index for 11/30 was 25 cents higher to $174.05. On average, cash cattle prices were around $1.50 higher last week, as live sales climbed to an average of $124.80 and dressed sales up to $196.30. Cash cattle trade is inactive so far this week. Wholesale beef prices were lower on the day with choice boxes off $1.84 and select boxes down $2.17. WTD estimated slaughter is 1,000 head behind last week and 4,000 head behind a year ago.
Dec 15 Cattle settled at $132.100, up $2.050,
Feb 16 Cattle settled at $134.625, up $2.275,
Apr 16 Cattle settled at $134.275, up $1.825,
Jan 16 Feeder Cattle settled at $164.400, up $1.650
Mar 16 Feeder Cattle settled at $162.225, up $1.800
Apr 16 Feeder Cattle settled at $163.625, up $1.675