Live cattle settled 40 to 57 cents lower in the most active contract months. Cash cattle trade has been quiet to start the week, with a few IA cattle changing hands at $188/$302 in the meat. Asking prices are mostly in the $304-306 range. Feeder futures were down $1.20 to $1.40, with the lower finished cattle prices offsetting cheaper corn in the breakevens. The CME Feeder Cattle Index was down 3 cents on June 4 to $250.86.
USDA’s Wholesale Boxed Beef prices were lower this afternoon, with choice quoted $2.09 lower to $314.79 and select down $3.57 per 100 pounds at $300.90. USDA estimated Wednesday’s FI cattle slaughter at 124,000 head, taking the weekly total to 367,000 head. That is down 2,668 head from the same week last year. The comparisons to last week are invalid due to the holiday.
Jun 24 Live Cattle closed at $181.775, down $0.400,
Aug 24 Live Cattle closed at $177.875, down $0.575,
Oct 24 Live Cattle closed at $180.300, down $0.500,
Aug 24 Feeder Cattle closed at $254.825, down $1.200,
Sep 24 Feeder Cattle closed at $256.200, down $1.400,
Oct 24 Feeder Cattle closed at $257.150, down $1.400,
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