Live cattle futures saw gains of 85 cents to $1.72 on Tuesday, while feeder cattle futures increased by 35 cents to $3.60. Cash trade last week ranged between $232 and $235, with early bids near $233 on Monday. The CME Feeder Cattle Index rose $2.24 to $349.13 as of August 3, and the Monday OKC feeder cattle auction reported 2,662 head sold, with prices rising $5-10 for steers and $5-15 for heifers.
According to NASS Crop Progress data, the U.S. pasture rating decreased to 25% good/excellent, down 4% from the previous week, while the Brugler500 index fell by 11 points to 259. Census data revealed that beef exports in June reached 199 million lbs, marking the lowest June total since 2020 but a three-month high. USDA estimates indicate that federally inspected cattle slaughter for Tuesday was 110,000 head, bringing the week’s total to 200,000, which is 2,000 head higher than the previous week but 17,685 head lower than the same week last year.
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