Live and Feeder Cattle Futures Down on Thursday; Greeley Strike Vote Looms

Live and feeder cattle futures fell on Thursday as the Greeley, CO JBS plant voted to authorize a strike, pending a timeline. Live cattle contracts closed down $5 to $6.20, with no sales in the 1,602-head online auction at $235-$236. Feeder cattle futures were down $6 to $7.50 in front-month contracts; the CME Feeder Cattle Index rose 59 cents to $375.16 on February 4. USDA reported 19,748 MT of beef sold in the week ending January 29, the largest in the calendar year, with shipments 3.32% higher than the prior week but 34.53% lower than the same week last year. Choice boxes closed at $367.25 (-$0.75), Select at $360.37 (-$1.72). Federal inspected cattle slaughter totaled 114,000 head for Thursday, seasonally 14,000 head higher but 23,336 head lower than the same week last year. Key contracts: Feb 26 Live Cattle @ $235.25 (-$5.28); Apr 26 @ $235.60 (-$6.20); Jun 26 @ $232.20 (-$5.03); Mar 26 Feeder @ $364.08 (-$6.00); Apr 26 @ $360.50 (-$7.00); May 26 @ $356.20 (-$7.55).