Live cattle closed the Tuesday session with contracts down a tick to 42 cents across most contracts, with June up 15 cents. Cash cattle trade has been quiet to start the week, with showlists being compiled early on. Last week saw the North reported at $190, down $2, with the South trading hands at $186, a $1 pullback. Feeders fell off the highs, with contracts closing 7 to 32 cents lower. The CME Feeder Cattle Index was up 22 cents on June 3 to $250.89. This week’s OKC feeder cattle auction saw heavier weight steers (>750 lbs) firm to up $3, with lighter weight steers $3 to $7 higher.
USDA’s Wholesale Boxed Beef prices were higher on Tuesday afternoon. Choice boxes were up another $1.28 at $316.88, with Select 77 cents higher to $304.47. The Chc/Sel spread was at $12.41. USDA estimated Tuesday’s FI cattle slaughter at 123,000 head, taking the weekly total to 243,000 head. That is down 2,344 head from the same week last year.
Jun 24 Live Cattle closed at $182.175, up $0.150,
Aug 24 Live Cattle closed at $178.450, down $0.425,
Oct 24 Live Cattle closed at $180.800, down $0.100,
Aug 24 Feeder Cattle closed at $256.025, down $0.175,
Sep 24 Feeder Cattle closed at $257.600, down $0.275,
Oct 24 Feeder Cattle closed at $258.550, down $0.300,
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