On Monday, live cattle futures increased by 35 cents to $1.12, with cash sales last week recorded at $230-233 in the North and $223-225 in the South. Feeder cattle futures also rose, closing at $310.675 for August contracts, up $2.775. The CME Feeder Cattle Index was up $2.10 to $314.07 on June 27.
The USDA announced a phased reopening of the border with Mexico starting July 7, while the USDA’s federally inspected cattle slaughter for Monday was estimated at 118,000 head, which is 7,000 head higher than the previous Monday and 2,680 head more than the same week last year.
Wholesale Boxed Beef prices reported mixed results, with Choice boxes down 93 cents to $395.56 and Select quoted $1.17 higher at $384.10/cwt. The Chc/Sel spread narrowed to $11.46.
