Live cattle futures are showing mixed trade on Tuesday, within 45 cents of unchanged. Cash trade was slow to develop last week, as late sales rolled in at $189-191 in the South, as the North exchanged hands at $197-198. Early week action has been mostly compiling showlists.
Feeder cattle futures are down a tick to 40 cents in the nearby contracts at midday. The CME Feeder Cattle Index was back up 87 cents on June 21 at $258.34. The weekly OKC action saw 5,200 head of feeders sold, with Steers down $3-5 and heifers $5-8 lower.
Pasture conditions slipped 1% across the US to 47% gd/ex, as the Brugler500 index was down 3 points to 320. In the top 13 major beef producing states, ratings were up 2 points to 347.
USDA reported wholesale Boxed Beef prices higher in the Tuesday morning report. Choice boxes were up $1.16 to $323.80/cwt, with Select $2.09 higher at $307.16. The Chc/Select spread narrowed to $16.64. USDA estimated Monday’s FI slaughter through at 115,000 head. That is down 1,000 head from the previous week and 9,524 head below the same week last year.
Jun 24 Live Cattle are at $189.100, up $0.200,
Aug 24 Live Cattle are at $184.400, down $0.425,
Oct 24 Live Cattle are at $184.250, up $0.450,
Aug 24 Feeder Cattle are at $258.875, down $0.025
Sep 24 Feeder Cattle are at $259.825, down $0.300
Oct 24 Feeder Cattle are at $260.300, down $0.375
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