Live cattle futures settled the day with most contracts steady to 50 cents lower, as nearby April was 35 cents higher. Feeder cattle futures were down 25 to $1.025 on Tuesday. The CME feeder cattle index was down 17 cents on March 8 at $143.17. Wholesale boxed beef values were lower on Tuesday afternoon. Choice boxes were down 17 cents at $223.73, with Select boxes 74 cents lower at $216.75. Estimated FI cattle slaughter was at 231,000 head through Tuesday, 3,000 head fewer than last week but 4,000 head above than the same week in 2017. Wednesday’s online FCE auction has just 113 head listed for sale, all from Kansas. There were a few reported cash sales of $127 on Tuesday, with some reaching up to $128 in the North.

Apr 18 Cattle closed at $121.900, up $0.350,

Jun 18 Cattle closed at $113.150, down $0.125,

Aug 18 Cattle closed at $110.775, down $0.050,

Mar 18 Feeder Cattle closed at $141.550, down $0.625

Apr 18 Feeder Cattle closed at $142.300, down $0.275

May 18 Feeder Cattle closed at $143.125, down $0.975

Market Commentary provided by:

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