Live cattle futures saw Monday losses of $1.60 to $2.75 across the front months on Monday. Open interest was up 923 contracts on Monday. Cash trade was limited, with some $246-249 in the North and some southern trade up to $249. Feeder cattle futures posted losses of $3 to $3.75. OI was up 841 contracts. The CME Feeder Cattle Index was down $1.57 to $375.80 on February 20. The weekly OKC feeder cattle auction sold 6,200 head with feeders steady to $3 and lighter weight feeders $10-15 higher, with calves $5 higher on steers and up $25 on heifers.
Cattle on Feed data from Friday afternoon showed 1.736 million head of feeders placed in January, down 4.72% from a year ago and below estimates. Marketings in January were down 13% at 1.626 million head. February 1 on feed totaled 11.505 million head, a drop of 1.8% from last year and below the 1.6% estimated decline.
