On Tuesday, live cattle futures increased by $1.50 to $2.97, with no deliveries noted. Last week, cash trade prices ranged between $256 and $258. In the feeder cattle market, futures closed up $2.00 to $3.45, while the CME Feeder Cattle Index rose by $5.63 to $367.01.
Statistics from the weekly OKC feeder cattle auction show approximately 4,540 head sold, with prices for feeder steers steady to $5 higher, and heifers up by $2-8. In contrast, calves dropped $10-20 for steers and $2-8 for heifers. The NASS Crop Progress report indicated a 31% good/excellent US pasture rating, up 1% from the previous week.
Wholesale Boxed Beef prices varied, with Choice boxes increasing by 70 cents to $392.90, while Select boxes decreased by $1.16 to $376.93. The USDA reported a cattle slaughter estimate of 109,000 head for Tuesday, totaling 211,000 for the week, a decrease of 3,000 from the prior week and 18,963 below the same week last year.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
