Live cattle futures were down 57 cents to $1.22 across the board on Tuesday. June futures expired at $258.20. Cash trade has been quiet this week with last week at northern sales of $260 and $258 in the South. Feeder cattle futures were down $2.87 to $3.22 at the close. The CME Feeder Cattle Index was down $2.52 on June 29 to $377.40.
The weekly NASS Crop Progress report showed the US pasture rating at 34% gd/ex, up 1% from the week prior. The Brugler500 index was up 5 points to 291.
Wholesale Boxed Beef prices were mixed in the Tuesday afternoon, with the Chc/Sel spread at $21.48. Choice boxes were up $1.72 at $393.16, with Select $2.50 lower to $371.68. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the weekly total at 214,000 head. That was down 2,000 from the previous week on a 3,000 head revision lower to Monday and 24,022 head below the same week last year.
Jun 26 Live Cattle closed at $258.200, up $0.800,
Aug 26 Live Cattle closed at $242.425, down $1.150,
Oct 26 Live Cattle closed at $236.650, down $0.725,
Aug 26 Feeder Cattle closed at $364.600, down $2.875,
Sep 26 Feeder Cattle closed at $362.525, down $3.225,
Oct 26 Feeder Cattle closed at $359.650, down $3.275,
