On Tuesday, live cattle futures increased by $2.10 to $3.05, with Aug 25 Live Cattle closing at $222.400. In the cash market, trade prices in the South ranged from $228-$230, while prices in the North were between $240-$241. The weekly OKC feeder cattle auction reported sales of 6,680 head, with prices generally $10-25 higher.
The USDA estimated Tuesday’s cattle slaughter at 118,000 head, bringing the weekly total to 230,000, which is 2,000 head lower compared to last week and 10,090 head lower than the same week last year. In the wholesale market, Choice Boxed Beef prices increased by 65 cents to $377.72, whereas Select prices decreased by $2.00 to $362.58/cwt, widening the Chc/Sel spread to $15.14.
