Live cattle futures were down 67 cents to $1.35 across most contracts on the day. Cash trade has yet to develop this week, as sales crept up to $258-260 last week. Feeder cattle futures were 42 cents to $2.27 lower at the close. The CME Feeder Cattle Index was up $2.44 on June 22 to $373.00.
Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel spread at $19.25. Choice boxes were up $4.25 to $400.31, while Select was $5.47 higher at $381.06 as retailers get stocked up for the July 4th weekend. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the weekly total at 216,000 head. That was up 8,000 from the previous week but 12,895 head below the same week last year.
Jun 26 Live Cattle closed at $255.150, down $0.675,
Aug 26 Live Cattle closed at $246.000, down $1.350,
Oct 26 Live Cattle closed at $239.750, down $1.250,
Aug 26 Feeder Cattle closed at $368.150, down $2.275,
Sep 26 Feeder Cattle closed at $366.975, down $1.850,
Oct 26 Feeder Cattle closed at $364.600, down $1.425,
