Live Cattle futures faded off the early session strength on Tuesday contracts closing 20 cents hit hero 70 cents lower. Cash trade has yet to get kicked off this week, with very light action at $233. Last week closed in at $236 in the north, and $228-231 in the south. Feeder cattle futures closed 17 to 55 cents lower on Tuesday. The CME Feeder Cattle Index was down another 52 cents @ $310.33.
National Wholesale Boxed Beef prices were mixed on Tuesday afternoon, with the Chc/Sel spread widening to $11.84. Choice boxes were up $4.03 to $394.25, while Select was quoted 69 cents lower at $382.41/cwt. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 118,000 head, with the week to date total at 229,000 head. That is 8,000 head above the week prior but 6,089 head below the same week last year.
Jun 25 Live Cattle closed at $221.600, down $0.700,
Aug 25 Live Cattle closed at $209.550, up $0.175,
Oct 25 Live Cattle closed at $206.950, down $0.150,
Aug 25 Feeder Cattle closed at $302.250, down $0.550,
Sep 25 Feeder Cattle closed at $302.450, down $0.175,
Oct 25 Feeder Cattle closed at $300.650, down $0.200,
