On Tuesday, Live Cattle futures closed 20 to 70 cents lower, with the Jun 25 contract at $221.60, down $0.70. Cash trade remained inactive at $233, below last week’s range of $236 in the north and $228-$231 in the south. Feeder cattle futures also declined, closing 17 to 55 cents lower, with the CME Feeder Cattle Index at $310.33, down 52 cents.
Mixed National Wholesale Boxed Beef prices were reported, with Choice boxes up $4.03 to $394.25, while Select dropped 69 cents to $382.41/cwt. Tuesday’s USDA-inspected cattle slaughter was estimated at 118,000 head, bringing the week’s total to 229,000, which is 8,000 head more than the previous week but 6,089 less than the same week last year.
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