Live cattle futures are up by 50 cents to $1.27 as of midday on June 26, 2023, following early weakness. This marks the first notice day for the August 11, 2025 contracts, with cash trade prices last week ranging between $256 and $258. Meanwhile, feeder cattle futures also showed gains between $1.70 and $1.90, with the CME Feeder Cattle Index rising by $5.63 to $367.01.
Approximately 4,540 head were sold in the weekly OKC feeder cattle auction, showing steady to $5 higher prices for feeder steers and an increase of $2-8 for heifers. However, calves were priced $10-20 lower for steers and $2-8 lower for heifers. The NASS Crop Progress report indicates that U.S. pasture conditions are rated at 31% good/excellent, an improvement of 1% from the previous week.
Wholesale Boxed Beef prices have shown mixed results, with Choice boxes down by 34 cents to $391.86, while Select boxes increased by 41 cents to $378.50. USDA’s federally inspected cattle slaughter on Monday was estimated at 102,000 head, which is a decrease of 2,000 from the previous week and 9,939 less than the same week last year.
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