**Live Cattle Futures Increase Amid Mixed Market Data**
Live cattle futures are seeing gains of 65 cents to $1.65 as of midday Tuesday, with the June contract priced at $255.025. Feeder cattle futures are also rallying, rising between $4 to $4.40, with May futures at $369.725. Cash trade last week ranged from $260-265 in the South, while northern prices were reported at $408-415 dressed and up to $265 live.
In the latest USDA Crop Progress report, pasture ratings for the U.S. decreased to 28% in the good/excellent category, down 3% from the previous week. The USDA estimated cattle slaughter for Monday at 106,000 head, up 4,000 from the prior week but down 8,055 compared to the same week last year. Wholesale Boxed Beef prices rose on Tuesday, with Choice boxes up $3.61 to $395.75 and Select boxes 98 cents higher at $393.88.
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