Live cattle futures decreased by 67 cents, settling at $1.35, while feeder cattle futures dropped 42 cents to $2.27. Cash trade remained undeveloped this week, following sales of $258-260 last week. On June 22, the CME Feeder Cattle Index rose by $2.44 to $373.00.
In wholesale markets, boxed beef prices increased in the Tuesday PM report, with Choice boxes rising $4.25 to $400.31 and Select increasing $5.47 to $381.06. The USDA estimated that Tuesday’s federally inspected cattle slaughter reached 110,000 head, totaling 216,000 head for the week—up 8,000 from the previous week but down 12,895 from the same week last year.
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