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Live cattle futures declined by $1.45 to $2.15 on Tuesday, with cash trades in the southern U.S. reaching $255, consistent with last week’s prices. The CME Feeder Cattle Index fell by $6.26 to $367.14, while the weekly auction in Oklahoma City estimated 5,134 head for sale, with feeder prices down $5-15 and calves dropping $10-20.
The USDA’s weekly Crop Progress report indicated that U.S. pasture conditions improved slightly to 30% good/excellent, a 1% increase. In the wholesale market, Choice boxed beef prices rose by 98 cents to $393.81, while Select boxes increased by 73 cents to $383.82. Additionally, federally inspected cattle slaughter on Monday was recorded at 104,000 head, marking a decrease of 10,635 head from the same day last year.
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