Live Cattle Higher, Feeders Lower on Tuesday

Live cattle futures ended 32.5 to 82.5 cents higher in most contracts on Tuesday. Feeder cattle futures were 7.5 to 45 cents lower. The CME feeder cattle index was up a nickel @ $131.46 on June 24. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down a dime at $219.64 with Select boxes 86 cents lower @ $198.95. USDA estimated this week’s FI cattle slaughter at 242,000 through Tuesday. That was 2,000 head larger than last week and 12,000 head more than the same week a year ago. There are a few $107 cash cattle bids being shown at midday. The few asking prices available have been up around $110-111. USDA reported a few $180 dressed sales in NE.

Jun 19 Cattle closed at $107.750, up $0.825,

Aug 19 Cattle closed at $103.250, up $0.825,

Oct 19 Cattle closed at $104.850, up $0.825,

Aug 19 Feeder Cattle closed at $131.325, down $0.450

Sep 19 Feeder Cattle closed at $131.875, down $0.475

Oct 19 Feeder Cattle closed at $132.300, down $0.300

--provided by Brugler Marketing & Management

Market Commentary provided by:

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