Live Cattle futures and Feeder Cattle futures settled lower.

Live Cattle futures and Feeder Cattle futures traded modestly lower at the close. April Live Cattle futures settled 60 cents lower at 237'40, while March Feeder Cattle futures also declined 60 cents to settle at 362'00. The morning Wholesale Box Beef report showed mixed results, with choice cuts rising 0.37 to 369'27 and select cuts falling 2.55 to 364'57. The USDA daily livestock summary reported a five-area average price for live steers at 234'70. Daily slaughter for the start of the week was softer at 100,000 head, representing a decrease of 5,000 head from the previous week. The market has remained largely rangebound this year, reflected by a decline in the CME C Vol indices, with live cattle volatility nearing its lowest levels since October.