Live cattle futures ended Tuesday anywhere from 57 cents higher to 40 cents lower. 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 of show lists. Feeder cattle futures were also mixed, with nearby August up 15 cents and other front months lower. The CME Feeder Cattle Index was back down 44 cents on June 24 at $257.90.
USDA’s Cold Storage report on Tuesday afternoon indicated 423.68 million lbs of beef stocks at the end of May. That was down just 0.46% from the same month last year and 3.39% lower than April 30 after an 8 million lb revision higher.
USDA reported wholesale Boxed Beef prices higher in the Tuesday PM summary. Choice boxes were up 75 cents to $323.39/cwt, with Select 19 cents higher at $305.26. The Chc/Select spread widened to $18.13. USDA estimated Tuesday’s FI slaughter at 121,000 head, with this week’s total at 236,000 head. That is down 3,000 head from the previous week and 16,988 head below the same week last year.
Jun 24 Live Cattle closed at $189.475, up $0.575,
Aug 24 Live Cattle closed at $184.425, down $0.400,
Oct 24 Live Cattle closed at $184.350, up $0.550,
Aug 24 Feeder Cattle closed at $259.050, up $0.150,
Sep 24 Feeder Cattle closed at $260.075, down $0.050,
Oct 24 Feeder Cattle closed at $260.600, down $0.075,
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