February cattle closed slightly lower on the session yesterday as a negative turnaround with outside market forces was widely seen as putting pressure on the market. A weaker tone for the stock market and a sharp selloff in gold and the energy markets as well as a stronger US dollar were also seen as negative factors for the cattle market. The outlook for tightening supply ahead is likely to be a positive force but a recovery in the US dollar caused some traders to grow more concerned over the export outlook. Higher corn prices may start to support deferred cattle contracts. The estimated cattle slaughter came in at 128,000 head yesterday. This brings the total for the week so far to 262,000 head, down from 333,000 head last week at this time and down from 384,000 head a year ago. Boxed beef cutout values were up $1.08 at mid-session yesterday and closed $1.23 higher at $193.48. This was up from $191.17 the prior week and is the highest beef market since November 30th.