Live cattle futures are up 5 to 50 cents after seeing the Cattle Inventory numbers. Feeders are higher with higher finished cattle and lower midday feed. Gains are 15 to 77 cents so far. The 1/27 CME Feeder Cattle Index was $135.34, up by 51 cents. Last week’s cash cattle trade was mostly $2 higher wk/wk at $113 live, and $5 higher compared to the previous week for dressed deals mostly near $178. After the close on Friday, USDA’s Jan Cattle Inventory Report showed a 93.594m head cattle herd as of Jan 1, down 0.2% yr/yr. Wholesale Boxed Beef prices continue strengthening through the first report of February. Choice boxes were quoted another $1.82 higher, to $235.77 cwt. Choice ribs were quoted at $374.13, loins @315.67, and chuck was above $200. Select boxes were $225.68, up $2.98. Select ribs were above $337 cwt., but loins were still below the $3 mark at $287.47 cwt. USDA estimates the week’s slaughter at 653,000 head through Saturday, which is 15,000 head above the same week last year. 

--- provided by Brugler Marketing & Management