Live cattle prices fell by 35 cents to $1.20 at midday on June 26, with cash trade experiencing light volume at $260 live and $408 dressed in the north. The Fed Cattle Exchange auction reported no sales from the 1,636 head offered, despite bids at $255. Feeder cattle futures dropped between $3.47 and $3.70, while the CME Feeder Cattle Index rose by $6.03 to $381.86 on June 24.
Cold storage data released on June 25 indicated that beef stocks at the end of May totaled 403.474 million pounds, down 1.06% from last year and 0.49% from April. Additionally, wholesale boxed beef prices decreased; choice boxes were down $4.22 to $392.10, and select boxes fell by $2.33 to $372.41, according to the USDA.
Cattle slaughter was estimated at 109,000 head on June 25, bringing the weekly total to 433,000 head, which is up by 7,000 from the previous week but 18,966 lower than the same week last year.
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