On Tuesday, live cattle futures experienced declines, with prices dropping between $3.77 and $4.90. Cash trade was reported last week at $235 in Texas and $233-238 in Kansas, while the northern business ranged from $380 dressed to $240-242 live in Nebraska. Feeder cattle futures fell by $6.37 to $6.87, with the CME Feeder Cattle Index at an average of $313.89, down $3.21 as of June 13.
The USDA’s Tuesday report noted an increase in National Wholesale Boxed Beef prices, with Choice boxes rising $4.40 to $383.51 and Select boxes up $5.07 to $372.54/cwt, resulting in a Chc/Sel spread of $13.97. The estimated cattle slaughter for Tuesday was 118,000 head, bringing the weekly total to 221,000, which is 10,000 head lower than the previous week and 15,714 head below the same week last year.
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