Live cattle futures fell $3 to $3.50 in most contracts, while feeder cattle futures dropped $4.65 to $5.40 at the Thursday close. Cash trade kicked off with some $383 dressed in the North and $244 to $245 live, with southern bids at $245. The CME Feeder Cattle Index declined $1.62 to $373.17 on February 24. Beef export sales hit a six-week low of 12,902 metric tons in the week ending February 19, with Japan the top buyer at 4,500 metric tons. Wholesale boxed beef prices were mixed, with Choice down $1.34 to $377.89 and Select up $3.72 to $370.79, narrowing the Choice-Select spread to $7.10.
Feeder cattle futures fell as cash trade began lower and the CME Feeder Cattle Index declined.
Beef export sales hit a six-week low, indicating weak demand for live cattle.