Live cattle futures rose by 50 to 75 cents, while cash trade reached $232-235 last week, despite early bids around $233 on Monday. Feeder cattle futures increased by $3.65 to $4.10 at midday. The CME Feeder Cattle Index was reported at $346.89 on July 31, gaining $1.06. The Oklahoma City feeder cattle auction saw 2,662 head sold, with steers priced $5-10 higher and heifer calves increasing by $10-15.
According to NASS Crop Progress data, the U.S. pasture rating dropped to 25% good/excellent, down 4% from the previous week. Beef exports in June totaled 199 million lbs, the lowest June figure since 2020 but a 3-month high. Wholesale boxed beef prices increased, with Choice boxes up $2.76 to $369.49 and Select boxes up $1.29 to $345.74. Monday’s USDA cattle slaughter was estimated at 90,000 head, a decrease of 2,000 from the prior Monday and 11,616 lower than the same week last year.
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