At the close, fat cattle futures were down 17 to 60 cents. Feb contracts were up 42 cents to $117, as OI continues to drop ahead of tomorrow’s expiration. At the close feeder cattle futures were a nickel higher in March but 32 to 42 cents stronger for the other front months. The 2/22 CME Feeder Cattle Index was $140.39, down $0.73. Cash cattle sales business picked up on Thursday with sales of $114 - $114.25. There were reports of Iowa fats changing hands at $115.50 today. Central Stockyards’ bonus auction resulted in no additional sales, packers were firm at $114.25 bids and feed lots were firm at $115+ asks. They are hosting the same pens again tomorrow. USDA reported beef export sales at 8,470 MT on the week ending 2/18. That was down 63% on the week and was 56% below the same week last year. South Korea and Japan were the top buyers on the week, as well as the top destinations for the 15,105 MT shipped. Wholesale Boxed Beef prices were lower on Thursday. Choice boxes were $240.39 after a 36 cent dip, and Select boxes were $228.79 after a $1 pullback. USDA’s estimate for WTD cattle slaughter is 483,000 head through Thursday. That is down 3,000 head yr/yr.  

--- provided by Brugler Marketing & Management