Live cattle futures increased by 15 to 90 cents during Tuesday’s session, with cash trade showing minimal activity and dressed sales around $359 following last week’s prices of $225-228 live and $362-368 dressed. Feeder cattle futures fell 75 cents in the August contract, while other contracts rose by 20 to 97 cents. The CME Feeder Cattle Index decreased by 88 cents to $343.55 as of August 17.
Workers at the Cargill slaughter facility in Fort Morgan, CO, voted to end a labor dispute, allowing operations to resume on September 7 after a lockout since May. Tuesday’s USDA report indicated a total of 203,000 head slaughtered this week, up 1,000 from the previous week but 15,217 lower than the same week last year.
In related market data, wholesale boxed beef prices rose, with choice boxes increasing by $11.58 to $389.61 and select boxes up $2.03 to $366.29. The Chc/Sel spread widened to $24.86.
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