On Monday, live cattle futures rose between $0.75 and $3, supported by gains in equities following a US-Iran deal. Cash trade for cattle last week ranged from $255 to $258. Feeder cattle futures also increased, closing up $4.12 to $5.30, while the CME Feeder Cattle Index dipped to $362.67 on June 12.
The USDA reported a 32% good/excellent rating for US pastures, a 1% increase from the previous week, with the Brugler500 index up 2 points to 280. In beef prices, choice boxed beef rose $3.12 to $395.05 and select boxes increased $3.69 to $376.41. Monday’s federally inspected cattle slaughter was estimated at 99,000 head, down by 3,000 from the prior week and 1,782 from the same week last year.
Notable cattle futures prices on June 26 included live cattle at $250.625 (up $0.750), Aug feeder cattle at $361.550 (up $4.125), and Sep feeder cattle at $359.525 (up $4.975).
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