Live cattle futures closed lower, with December and February contracts dropping by one dollar fifty to one dollar ninety cents. Feeder cattle also fell, with January feeders settling at three hundred forty-four dollars sixty-two and a half. Cash trade remained quiet, but a few sales hit two hundred twenty-nine dollars in Kansas. The Fed Cattle Exchange saw no sales, with bids at two hundred twenty-five to two hundred twenty-seven dollars fifty cents. Open interest dropped seven hundred twenty-six contracts, while managed money traders added three thousand thirteen contracts to their net long position in live cattle. Cold storage reports showed beef stocks at four hundred twenty-five point five million pounds, down three point four two percent from last year. Boxed beef prices dipped for Choice, while Select rose. Slaughter increased, with Tuesdays estimate at one hundred twenty-three thousand head and the week-to-date at two hundred forty-four thousand, thirteen thousand above last week.

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