On Monday, live cattle futures gained $1.475, with cash trade recorded at $186 in the South, up $1 from the previous week, and $187 in the North, alongside a beef price of $296, up $2. Additionally, the first notice day for October live cattle saw no deliveries issued.
Feeder cattle futures experienced mixed results, with changes ranging from a decline of 12 to 77 cents in the nearbys to an increase of $2.55 on the day. The CME Feeder Cattle Index rose 70 cents to $247.48. The weekly OKC feeder cattle auction is expected to feature 4,700 head, down from 5,878 last week and 6,121 year-over-year, with heavier steers showing steady to $2 higher prices.
USDA’s wholesale boxed beef prices increased, with Choice boxes up $3.35 to $305.93 per cwt and Select boxes rising $1.72 to $289.33. Monday’s federally inspected cattle slaughter was estimated at 110,000 head, 9,000 below the prior Monday and down 13,196 from the same day last year.
