**Live Cattle Futures Update – October 10, 2023**
Live cattle futures declined by 17 cents to $1.42 at midday Tuesday. Cash trade has been primarily quiet this week with southern bids around $260, while last week’s prices ranged from $256 to $260. Feeder cattle futures are also down, falling $1.90 to $3.15. The CME Feeder Cattle Index decreased by $2.54 to $374.83 as of May 7.
The Monday Crop Progress report indicated that U.S. pasture ratings are currently at 31% in the good/excellent category, with a Brugler500 index score of 275. Additionally, the USDA estimated Monday’s federally inspected cattle slaughter at 102,000 head, an increase of 4,000 head from the previous week and 4,707 head above the same date last year. Wholesale boxed beef prices rose, with Choice boxes up 67 cents to $391.89 and Select increasing by $2.82 to $394.31.
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