Live cattle futures were $3.20 to $4.07 higher on Tuesday. Cash trade saw very light $225 Southern action reported on Tuesday, with last week’s sales of $230-232 in the North and $222-225 in the South. Feeder cattle futures continued the week’s rally, with gains of another $5 to $5.90. The CME Feeder Cattle Index was up 8 cents to $311.40 on July 7.
USDA Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel spread widening to $14.75. Choice boxes were up $2.06 to $393.04, while Select was quoted 93 cents higher at $378.46/cwt. Estimated cattle slaughter for Tuesday was 118,000 head according to the USDA, with the weekly total at 232,000 head. That was 6,000 head below last week and 2,799 head lower vs. the same week last year.
Aug 25 Live Cattle closed at $219.975, up $4.075,
Oct 25 Live Cattle closed at $216.825, up $3.875,
Dec 25 Live Cattle closed at $216.625, up $3.200,
Aug 25 Feeder Cattle closed at $319.125, up $5.400,
Sep 25 Feeder Cattle closed at $319.175, up $5.650,
Oct 25 Feeder Cattle closed at $317.250, up $5.900,
