Live cattle futures fell by 75 cents to $1.30 across most contracts on Tuesday, with cash trade remaining quiet. Last week’s sales recorded northern prices at $260 live and $408-410 dressed, while some southern sales were at $258. Feeder cattle futures also declined between $3.37 and $3.45, with the CME Feeder Cattle Index decreasing by 48 cents to $379.92 as of June 26.
The latest USDA NASS Crop Progress report indicates that U.S. pasture ratings improved slightly, with 34% rated good/excellent—up 1% from the previous week. The Brugler500 index increased by 5 points to 291. Meanwhile, as of June 30, the APHIS reports 29 total cases of New World Screwworm in the U.S., with 21 of these still active.
In the beef market, wholesale boxed beef prices saw an increase, with Choice boxes rising $3.54 to $394.98, and Select boxes up $1.17 to $375.35. The USDA estimates Monday’s cattle slaughter at 107,000 head, which is 1,000 more than the previous week but down 9,911 from the same time last year.
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