Live cattle futures closed down $2.65 to $4.925 on Monday, while feeder cattle futures dropped $2.37 to $3.52. The average cash trade last week ranged from $256 to $258. The CME Feeder Cattle Index increased $5.63 to $367.01 on June 5. In the weekly OKC feeder cattle auction, approximately 4,540 head were sold, with feeder steers steady to $5 higher and heifers up $2-8. Calves, however, saw a decline of $10-20 for steers and $2-8 for heifers.
The latest NASS Crop Progress report indicated that US pasture conditions improved slightly, with 31% rated good/excellent, up 1% from the previous week. Additionally, two new cases of New World Screwworm were reported, one in La Salle County, TX, and another in Gillespie County, TX, alongside a case involving a dog in Lea County, NM.
Wholesale boxed beef prices fell on Monday; choice boxes decreased by 50 cents to $392.20, while select boxes dropped $4.60 to $378.09. USDA’s estimated cattle slaughter for Monday was 102,000 head, down 2,000 from the previous week and nearly 10,000 lower than the same week last year.
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