Live cattle futures were stronger again on Tuesday, with contracts up $3 to $3.40 and reaching new all time highs. Preliminary open interest was up 2,998 contracts. There were no deliveries issued for August live cattle on Tuesday. Cash trade has been quiet this week, as last week picked up to $235-236 in the South and Northern trade reported at $247. Feeder cattle futures rallied $5.10 to $5.65 across the front months on Tuesday to hit a fresh high for the move. The CME Feeder Cattle Index was back up 21 cents to $336.03 on August 4.
Beef export data from Census and converted to a carcass basis was tallied at 217.03 million lbs for June. That was the lowest export total for any month since June 2020.
