Live cattle futures posted gains of $1 to $1.25 in the nearbys on Monday. Cash trade last week settled in around $199 in the South and North trade at $199-200, both down $3-4 from the week prior. Feeder cattle were the leaders on Monday, as contracts were rallying $4 to $4.50. The CME Feeder Cattle Index was up another 53 cents on February 21 at $279.37. Monday’s OKC feeder cattle auction showed 4,335 head for sale, up from last week but well below last year. Sales were up $3 for feeder steers and steady to $2 higher for feeder heifers. Stockers were $10-20 higher, with calves up $3-8 for steers and $10-20 for heifers.

Last Friday’s Cattle on Feed report tallied January placements up 1.73% from 2024 at 1.822 million head. Marketings during January were 1.41% higher at 1.869 million head. That took the February 1 on feed inventory to 11.716 million head, down 0.69%. 

USDA’s National Wholesale Boxed Beef report was back to higher trade on Monday afternoon, with the Chc/Sel spread widening at $9.76. Choice boxes were back up $2.96 at $313.73/cwt, with Select $1.41 higher to $303.97. The Monday Federally inspected cattle slaughter was estimated at 95,000 head by the USDA. That is even with the previous week but a 26,493 head drop from the same week last year.

Feb 25 Live Cattle  closed at $198.900, up $1.075,

Apr 25 Live Cattle  closed at $195.100, up $1.150,

Jun 25 Live Cattle  closed at $191.400, up $1.075,

Mar 25 Feeder Cattle  closed at $272.300, up $4.350,

Apr 25 Feeder Cattle  closed at $272.025, up $4.475,

May 25 Feeder Cattle  closed at $270.350, up $4.425,