Live cattle futures are trading with 80 cents to $1.60 losses ahead of the USDA Cattle on Feed report this afternoon. Cash trade has been quiet so far this week, with a few bids of $245 across the country so far. The Friday Fed Cattle Exchange auction showed no sales on the 1,394 head offered, with limited bids of $245-246 live and $380.50 dressed. Feeder cattle futures are falling $2.50 to $3 at midday. The CME Feeder Cattle Index was up 90 cents to $376.92 on February 18.
Export Sales data from USDA showed a total of 14,694 MT of beef sold in the week of February 12, a 5-week low. Shipments were 13,362 MT in that week.
