Live cattle futures experienced a decline of 57 cents to $1.22 on Tuesday, with June futures expiring at $258.20. In the cash market, northern sales last week reached $260, while southern prices were at $258. Feeder cattle futures also fell, down $2.87 to $3.22, with the CME Feeder Cattle Index recorded at $377.40 on June 29, a decrease of $2.52.
According to the USDA’s weekly NASS Crop Progress report, the U.S. pasture rating improved slightly to 34% good/excellent, up 1% from the previous week. The Brugler500 index increased by 5 points to 291. Additionally, USDA estimated the federally inspected cattle slaughter for Tuesday at 110,000 head, bringing the weekly total to 214,000 head, a decrease of 2,000 from the prior week and 24,022 head lower than the same week last year.
Wholesale Boxed Beef prices were mixed Tuesday, with Choice boxes rising by $1.72 to $393.16, while Select boxes fell by $2.50 to $371.68. The Chc/Sel spread was reported at $21.48.
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