Live cattle futures closed out the Tuesday session with contracts steady to 72 cents higher. Cash trade was quiet last week, with a few sales of $190 in the South and $197-198 in the North. Both had been a $1-2 improvement from the week prior. Early week activity has been mostly compiling show lists. Feeder cattle futures were mostly 5 to 87 cents higher across the board, with a couple deferred contracts lower. The CME Feeder Cattle Index was down just 2 cents at $258.73 on July 29.
USDA wholesale Boxed Beef prices were lower in the Tuesday PM report. Choice boxes were down 33 cents at $314.48, with Select products 14 cents lower @ $301.38. The Chc/Sel spread has narrowed to $13.10. USDA estimated Tuesday’s FI slaughter at 123,000 head, taking the weekly total to 238,000 head. That is even with last week 7,843 head below the same week a year ago.
Aug 24 Live Cattle closed at $187.700, up $0.725,
Oct 24 Live Cattle closed at $187.450, up $0.650,
Dec 24 Live Cattle closed at $188.175, up $0.500,
Aug 24 Feeder Cattle closed at $256.975, up $0.550,
Sep 24 Feeder Cattle closed at $256.950, up $0.875,
Oct 24 Feeder Cattle closed at $255.875, up $0.675,
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