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Live cattle futures experienced a decrease of 50 cents in nearby December contracts, while other contracts rose 20 to 30 cents. On Tuesday, there were 15 new deliveries at West Point, NE, and another 15 retendered in Kearney, NE. Last week’s cash trade prices ranged from $220-225 in the north and $225-226.50 in the south.
Feeder cattle futures closed down 15 to 30 cents for front months, with the CME Feeder Cattle Index rising by $1.44 to $344.50. The Monday OKC feeder cattle auction reported a sale of 7,419 heads, with prices for cattle over 800 lbs increasing by $6-10, and lighter calves under 800 lbs gaining $15-30.
The USDA estimated Tuesday’s federally inspected cattle slaughter at 123,000 head, contributing to a weekly total of 238,000, which is 1,000 head above last week but 191 head fewer than the same week last year. Choice boxed beef prices increased by 14 cents to $362.97, while Select prices decreased by 57 cents to $348.03.
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