On Tuesday, live cattle futures rose by 87 cents to reach $2.05. Notable cash trade was reported at $191 in Kansas, with last week’s cash trade settling at the same price in the South and between $191-192 in the North, showing a $1-2 increase from the previous week. There were no deliveries against December live cattle.
Feeder cattle also saw gains ranging from $1.425 to $2.25. The CME Feeder Cattle Index dropped by 63 cents to $261.62 as of December 9. Additionally, the weekly OKC feeder cattle auction is estimated to have approximately 13,234 heads for sale, significantly higher than last week and the same week last year. Price action recorded a decline of $3-9 for feeder steers and $10-15 for calves.
USDA reported mixed trends in wholesale Boxed Beef prices, with Choice boxes down $2.41 to $311.73/cwt, while Select boxes increased by 31 cents to $279.65. The estimated federally inspected cattle slaughter for Tuesday was 120,000 head, bringing the week-to-date total to 239,000, which is 3,000 head lower than the previous week and down 13,183 from the same week last year.
