Live cattle futures closed out Monday with contracts $2.12 to $2.925 in the red at the close. Cash trade was up $4-5 last week at $228-$230 in the South, with Northern action $8-10 higher wk/wk at $240-241. Feeder cattle are fell lower on the Monday session as contracts were down $5.50 to $5.85. The CME Feeder Cattle Index was back down $3.48 to $319.89 on July 11. The weekly OKC feeder cattle auction had an estimated 7,000 head for sale, with price action listed $10-25 higher.
USDA Wholesale Boxed Beef prices continue the weaker pattern in the Monday PM report, with the Chc/Sel spread widening to $12.49. Choice boxes were down $1.57 to $377.07, while Select was quoted $1.91 lower at $364.58 /cwt. USDA estimated cattle slaughter for Monday at 112,000 head. That was 2,000 head below last Monday and 5,427 head lower vs. the same week last year.
