On June 26, live cattle futures experienced losses, settling down $1.25 to $2 across most contracts. The cash trade from the previous week ranged from $250 to $257. Feeder cattle futures also declined, with decreases between $4.80 and $6.02. The CME Feeder Cattle Index rose by $1.51, reaching $375.54 as of May 1. At the weekly OKC feeder cattle auction, 6,800 head were sold, with steers steady to $4 higher and heifers steady to $2 lower.
Wholesale Boxed Beef prices rose in the afternoon report, with Choice boxes up $2.45 to $391.56 and Select boxes increasing by $3.55 to $390.60. The USDA estimated Monday’s federally inspected cattle slaughter at 98,000 head, down 8,000 from the previous week and 10,876 below the same week last year.
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