Live cattle futures fell 57 cents to $1.22 per pound Tuesday, with June futures closing at $258.20. Cash trading remained subdued this week, reflecting prior month’s northern sales at $260 and Southern transactions at $258. Feeder cattle futures decreased $2.87 to $3.22, while the CME Feeder Cattle Index dropped $2.52 to $377.40 on June 29.
The weekly NASS Crop Progress report maintained US pastures at 34% good-to-excellent condition, a 1 percentage-point increase from the previous week. The Brugler500 index rose 5 points to 291.
Wholesale boxed beef prices showed mixed movement Tuesday afternoon. The Chc/Sel spread stood at $21.48, with choice boxes increasing $1.72 to $393.16 and select grades declining $2.50 to $371.68. Estimated federally inspected cattle slaughter for the day totaled 110,000 head, bringing the weekly total to 214,000 head – a 2,000 head decrease from last week after revisions reduced Monday’s count by 3,000 head and recorded 24,022 head fewer than the same period last year.
Key futures pricing included: Jun 26 Live Cattle at $258.200 (+$0.800), Aug 26 Live Cattle at $242.425 (-$1.150), Oct 26 Live Cattle at $236.650 (-$0.725), Aug 26 Feeder Cattle at $364.600 (-$2.875), Sep 26 Feeder Cattle at $362.525 (-$3.225), and Oct 26 Feeder Cattle at $359.650 (-$3.275).
