Live cattle futures are trading with $2.25 to $2.90 losses so far at midday. Cash trade was at $247-248 across the country last week, a $7-8 drop from the week prior. Feeder cattle futures are up $4.85 to $5 lower across most contracts. The CME Feeder Cattle Index was back up $2.10 on July 10 to $372.52.
The weekly NASS Crop Progress report showed the US pasture rating at 30% gd/ex, down 3% from the week prior. The Brugler500 index was down 11 points to 277.
Wholesale Boxed Beef prices were mixed in the Tuesday AM report, with the Chc/Sel spread at $9.73. Choice boxes were down a penny at $375.61, with Select 70 cents higher to $365.87. USDA’s Federally inspected cattle slaughter for Monday was at 105,000 head. That is up 5,000 head from the previous Monday but 6,745 head below the same Monday last year.
Aug 26 Live Cattle are at $231.825, down $2.900,
Oct 26 Live Cattle are at $228.250, down $2.375,
Dec 26 Live Cattle are at $227.675, down $2.725,
Aug 26 Feeder Cattle are at $349.500, down $4.850
Sep 26 Feeder Cattle are at $345.925, down $4.900
Oct 26 Feeder Cattle are at $341.850, down $5.000
