Live cattle futures rose on Tuesday, with contracts increasing by 82 cents to $2.10 at the close. The Central Stockyards reported online sales from the Fed Cattle Exchange, with 923 head sold at prices ranging from $193 to $193.25 in Texas. Last week’s cash trade was reported at $198 to $200 in the north and $190 in the south. Additionally, feeder cattle futures surged, closing up between $3.27 and $3.85.
Cargill’s beef plant in Dodge City, KS, expects to resume operations on Friday following a partial roof collapse earlier this week. USDA’s wholesale boxed beef prices were higher on Tuesday, with choice boxes up $1.21 to $330.39/cwt and select boxes rising by 7 cents to $306.48. Tuesday’s estimated slaughter was 118,000 head, bringing the week-to-date total to 233,000 head, down 3,000 from last week but above the same week last year.
Key closing prices included August live cattle at $185.100, October at $185.650, and December at $187.650. August feeder cattle closed at $261.100, September at $261.325, and October at $261.450.
