On Monday, live cattle futures rose between $2.10 and $3.10, with August 26 live cattle closing at $226.525. Cash trade remains inactive, with last week’s prices at $238-240 in the north and $237-238 in the south. Feeder cattle futures also saw significant increases, rallying $4.57 to $7, while the CME Feeder Cattle Index fell by $4.32 to $359.71.
The USDA reported a cattle slaughter of 106,000 on Monday, an increase of 1,000 head from the previous week and 479 head more than the same day last year. Additionally, the NASS Crop Progress report showed that the U.S. pasture rating is now at 29% good to excellent, down 1% from the prior week. Wholesale boxed beef prices also rose, with choice boxes increasing by $3.29 to $370.10.
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