On July 4, live cattle futures fell by $2.30 to $3.12, with cash sales last week averaging $230-233 in the North and $223-225 in the South. The Fed Cattle Exchange auction on Tuesday reported no bids on 1,064 head of cattle offered.
Feeder cattle futures also declined, dropping $4.65 to $5.10, reacting negatively to the USDA’s announcement of a phased reopening of the U.S.-Mexico border starting July 7. The CME Feeder Cattle Index increased by $1.00 to $315.07 as of June 30.
According to the USDA, Tuesday’s federally inspected cattle slaughter was estimated at 120,000 head, up 9,000 from the previous week and 3,714 more than the same week last year. The weekly total for slaughter reached 238,000 head.
