Live cattle futures posted gains of 95 cents to $1.125 in most contracts on Monday. Feeder cattle futures were up $1.15 to $1.60. The CME feeder cattle index was down 59 cents on March 2 at $145.44. Wholesale boxed beef values were higher on Monday afternoon. Choice boxes were up 70 cents at $223.23, with Select boxes $0.20 higher at $214.84. Estimated FI cattle slaughter was 119,000 head on Monday, up 2,000 head from last week and 5,000 head larger than the same week in 2017. The managed money net long position in live cattle futures and options was at 99,777 contracts as of Feb 27, 1,047 contracts larger than the previous week.

Market Commentary provided by:

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