Live cattle futures closed out Monday with gains of $1.40 to $1.87 after a gap higher. Cash activity settled in at $230-232 in the South last week, with $240-245 in the North. Feeder cattle futures were higher on Monday with $2.15 to $2.35 gains in the nearbys. The CME Feeder Cattle Index was back up $1.10 to $329.93 on July 25. The Monday OKC feeder cattle auction had 2,972 head for sale, with action listed as $8-13 higher for steers and heifers $10-20 higher.
USDA Wholesale Boxed Beef prices were back higher in the Monday PM report, with the Chc/Sel spread at $20.88. Choice boxes were quoted $1.05 higher at $367.73, while Select was up $1.98 to $346.85. USDA estimated cattle slaughter for Monday at 108,000 head. That was up 3,000 head from last week but 6,308 head lower vs. the same Monday in 2024.
