Live cattle futures dropped between $1.52 and $2.52 on Tuesday, with feeder cattle futures declining by $2.20 to $2.55. The CME Feeder Cattle Index fell by $1.32 to $374.37. The Oklahoma City feeder cattle auction reported 5,867 head sold, with prices steady to $2-$4 lower. Meanwhile, early cash trade in Kansas saw few light sales around $246, but no strong trend emerged.
The USDA estimated that 111,000 cattle were federally inspected for slaughter on Tuesday, bringing the week-to-date total to 208,000, marking a decrease of 8,000 from the previous week and 17,274 from the same week last year. In related news, the latest update on the New World Screwworm reported 1,395 active cases in Mexico, including 102 cases in Tamaulipas and 5 in Nuevo Leon.
