Live cattle futures closed lower on Monday, October 26, with losses ranging from 57 cents to $1.42. Feeder cattle futures also declined, dropping $1.32 to $3.02. The CME Feeder Cattle Index reported $338.79 on September 24. In the weekly OKC feeder cattle auction, approximately 6,000 head were for sale, with feeder steer prices steady to $3 lower and calves declining by $5 to $15 for steers and $2-8 for heifers.
The USDA’s Monday Crop Progress report indicated that U.S. pasture ratings improved slightly to 19% good/excellent, up by 2%. Additionally, estimated federally inspected cattle slaughter for Monday was 95,000 head, matching last week’s figures but 10,000 head below the same time last year.
Wholesale boxed beef prices saw increases, with Choice boxes rising $1.65 to $380.48 and Select boxes up $2.47 to $358.23. This follows light slaughter activity due to recent ICE raids in Kansas.
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