Live cattle futures declined by 90 cents to $1.50 across the front months on Friday, with April remaining $1.37 higher for the week. Cash trading remained restricted, fluctuating between $245-247 in northern markets and reaching $249 in southern transactions. Feeder cattle futures faced downward pressure, closing $2.25 to $2.60 lower, as March contracts stayed $1.87 above weekly levels. The CME Feeder Cattle Index rose 44 cents to $377.37 on February 19.
USDA export data revealed beef sales of 14,694 metric tons (MT) during the week of February 12—the lowest in five weeks. South Korea accounted for 5,500 MT, while Japan purchased 2,600 MT. Total shipments stood at 13,362 MT, with South Korea as the top recipient (4,400 MT) and Japan following at 3,900 MT.
Commitment of Traders data indicated a net increase of 8,083 contracts in long positions for live cattle futures and options, totaling 116,717 contracts. In feeder cattle markets, managed money added 644 contracts to their long positions, reaching 16,806 contracts.
Cattle on Feed data showed 1.736 million head placed in January, a 4.72% decrease from the previous year and below estimates. January marketings totaled 1.626 million head, representing a 13% reduction. February 1 on-feed inventory reached 11.505 million head, a 1.8% year-over-year decline compared to the expected 1.6% decrease.
Wholesale Boxed Beef prices rose on Friday, with the Choice/Select (Chc/Sel) spread widening to $5.96. Choice boxes increased $1.53 to $366.70, while Select rose 95 cents to $360.74. USDA estimated federally inspected cattle slaughter at 516,000 head—25,000 more than the prior week but 48,737 fewer than the same period last year.
Key futures closing prices on February 26 included: June 26 Live Cattle at $237.525 (down $1.350), April 26 Live Cattle at $242.000 (down $1.425), and March 26 Feeder Cattle at $368.025 (down $2.250).
