Live cattle futures experienced losses ranging from 60 cents to $1.55 on the day, with October 26 Live Cattle closing at $212.075. Last week’s cash trade reports indicated prices between $220-222, with no updates available for this week. Feeder cattle futures also declined, closing down $1.10 to $1.97, while the CME Feeder Cattle Index fell 17 cents to $329.14 as of August 31.
According to Monday’s Crop Progress report, U.S. pasture ratings were at 18% good/excellent, down 3% from the previous week. The Brugler500 index decreased by 7 points to 245. In the beef market, wholesale boxed beef prices saw increases, with Choice boxes climbing $3.93 to $379.75 and Select boxes up $1.96 to $360.45. The USDA reported a federally inspected cattle slaughter of 106,000 head on Tuesday, bringing the weekly total to 207,000, an increase of 2,000 head from the previous week.
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