Live cattle futures increased by 65 cents to $1.80 at midday on June 26, with cash trades noted at $255-258 nationwide. Feeder cattle futures rose by $3.30 to $3.50. The CME Feeder Cattle Index also showed an increase, reaching $373.40 as of May 28. Meanwhile, a new world screwworm case was reported in Mexico, just 31 miles from the US border. The OKC auction is estimating 5,500 head for sale, reflecting a lower market trend.
According to the Commitment of Traders report from CFTC, live cattle spec traders had a net long position of 120,569 contracts as of Tuesday, dropping by 9,544 contracts over the week. Managed money in feeder cattle saw a similar trend, decreasing their net long by 5,785 contracts to a total of 10,595, the lowest since fall 2024.
Wholesale Boxed Beef prices declined in the Monday AM report, with Choice boxes up $2.63 to $394.10 and Select boxes increasing by $0.66 to $383.84. The USDA estimated cattle slaughter for the last week at 448,000 head, a decrease of 39,605 head from the same period last year.
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