Live cattle futures are trading with Monday morning losses of 87 cents to $1.95.. Cash trade was at $208-209 in the South last week, with Northern sales near $208-212 live and $330-332 in the beef. 

Feeder cattle futures are $4.35 to $4.75 lower on the session. The CME Feeder Cattle Index was up another 61 cents from the day prior at $281.68 on January 30. On Saturday, USDA released a statement that cattle imports from Mexico are set to resume in the coming days, with a strict new protocol for inspection before crossing the border.

The Friday afternoon annual Cattle Inventory report showed all cattle and calves down 0.57% at 86.662 million head. The 2024 calf crop was down 0.1% at 33.53 million head. Beef cow inventory was down 0.53% at 27.86 million head. Beef replacement heifers were down 0.97% at 4.672 million head.

Spec funds in live cattle futures and options were adding to their, as of Tuesday, record net long position by 8,443 contracts to 156,909 contracts. CFTC data showed managed money in feeder cattle trimming back their record net long by 496 contracts to 28,879 contracts.

USDA wholesale Boxed Beef prices were higher in the Monday AM report, with the Chc/Sel spread @ $10.42. Choice boxes were up $3.55 at $331.23/cwt, with Select $3.74 higher at $320.81. USDA estimated the weekly federally inspected cattle slaughter at 600,000 head for last week. That was 1,000 head above last week and down 32,438 head from the same week last year.

Feb 25 Live Cattle  are at $203.725, down $0.875,

Apr 25 Live Cattle  are at $200.375, down $1.925,

Jun 25 Live Cattle  are at $194.750, down $1.950,

Mar 25 Feeder Cattle  are at $271.225, down $4.500

Apr 25 Feeder Cattle  are at $270.500, down $4.625

May 25 Feeder Cattle  are at $268.750, down $4.375