Live cattle futures fell on Tuesday, with contracts dropping between $1.77 and $2.20 at midday. Cash trade remains inactive this week, following last week’s sales that increased $1-6, reaching $222-225. Feeder cattle futures also saw significant declines, with a drop of $3.30 to $3.95.
The CME Feeder Cattle Index rose $10.49 to $341.71 on September 11. The weekly OKC feeder cattle auction reported sales of 5,198 head, noting price increases of $15-25 for steers and $10-20 for heifers. According to the USDA, estimated federally inspected cattle slaughter for Monday was 106,000 head, surpassing the previous week’s numbers but falling short by 3,967 head compared to the same week last year.
Wholesale Boxed Beef prices varied, with Choice boxes up $1.16 to $376.46 and Select boxes decreasing by 19 cents to $354.36. The US pasture rating stands at 19% good/excellent, a 1% rise from last week.
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