The cattle market is slipping through midday with triple digit losses so far. August is leading the way down with a $1.40 loss of 0.8%. Midday feeder cattle quotes are $1.15 to $1.77 weaker with 0.5% losses in the front months. The Tuesday FCE auction showed no sales between $178 bids and $182 asks for the 1,513 head listed. The USDA’s OKC Feeder Auction review had 6.1k head sold with prices +/- $2 from last week. The CME Feeder Cattle Index for 6/15 was $223.76, down by $3.92.
USDA’s Wholesale Boxed Beef report showed Choice boxes were 69 cents weaker in the AM report to $342.40, while Select was down by 73 cents to $310.22. USDA marked the week’s federally inspected cattle slaughter at 634k head through Saturday. That is up from 616k last week, but 34k head below the same week last year.
