Live cattle futures fell between 60 cents and $1.10 on Tuesday. Cash transactions have been minimal this week, with prices hovering around $258‑$260 last week. Feeder cattle futures traded down 57 cents to $1.62 at midday, while the CME Feeder Cattle Index rose $1.88 on June 19 to $370.56.
The USDA’s NASS Crop Progress report indicated that the U.S. pasture rating improved to 33 % good/excellent, a 1 % increase from the previous week. The Brugler 500 index climbed six points to 286.
Managed money added 15,347 contracts to its net‑long position for the week ended June 16, bringing its total to 124,349 contracts in live cattle futures and options. CFTC data showed speculators increased their net‑long in feeder cattle futures and options by 2,203 contracts, reaching 13,123 contracts.
Wholesale boxed beef prices rose in Tuesday’s morning report. The Choice/Select spread widened to $17.49. Choice beef boxes increased $4.20 to $400.26, while Select boxes rose $7.18 to $382.77 as retailers stock up for the July 4th weekend. USDA estimates put federally inspected cattle slaughter on Monday at 106,000 head, up 7,000 from the previous Monday but 4,758 below the same day last year.
Live cattle futures for June 26 are $255.20, down $0.625; for August 26, $246.25, down $1.10; and for October 26, $240.28, down $0.73.
Feeder cattle futures for August 26 are $368.80, down $1.63; for September 26, $367.80, down $1.03; and for October 26, $365.45, down $0.58.
