Live cattle futures dropped on Tuesday, with contracts falling between $1.60 and $3.30, while feeder cattle futures decreased by $5.50 to $6.35. Cash trade has not yet commenced this week; northern bids are reported at $380 dressed compared to last week’s sales of $390-$393. Last week’s live action averaged $247-$248 across the country.
Wholesale Boxed Beef prices were mixed, with Choice boxes down $1.66 to $373.95 and Select boxes decreasing by $0.76 to $365.87. USDA reported a federally inspected cattle slaughter of 111,000 head for Tuesday, bringing the week-to-date total to 216,000 head, which is 6,000 head higher than the previous week but 14,541 head lower than the same week last year.
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