Live and Feeder Cattle Futures Drop on Tuesday Close; CME Index at $373.83

Live cattle futures fell 20 to 80 cents across most contracts on February 10, closing at $239.10 for February, $237.425 for April, and $233.800 for June. Feeder cattle futures were $1.00 to $2.67 lower, closing at $364.775, $361.275, and $356.775 for March, April, and May, respectively. The CME Feeder Cattle Index was at $373.83, down 83 cents from the February 6 close. Wholesale boxed beef prices were mixed: the Choice/Select spread widened to $4.65. Choice closed at $367.55, down 21 cents; Select at $362.90, down $2.45. USDA reported 116,000 head slaughtered Tuesday, for a weekly total of 223,000, 4,183 head above the same week last year.