Live cattle futures are down $1.45 to $2.15 in the front months on Tuesday. Cash trade has started to creep in a $255 in the south this week, near the $255-258 trade from last week. Feeder cattle futures are trading with $4.15 to $4.30 at midday. The CME Feeder Cattle Index was back down $6.26 on May 29 to $367.14. The weekly OKC auction has an estimated 5,134 head for sale, with feeders noted $5-15 lower, as calves were down $10-20.
The weekly NASS Crop Progress report showed the US pasture rating at 30% gd/ex, up 1% from the week prior. The Brugler500 index was up 5 points to 272.
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Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread at $9.99. Choice boxes were up 98 cents to $393.81, while Select was 73 cents higher at $383.82. USDA estimated federally inspected cattle slaughter for Monday at 104,000 head, which was down 10,635 head from the same Monday last year.
Jun 26 Live Cattle are at $247.550, down $1.450,
Aug 26 Live Cattle are at $238.950, down $1.650,
Oct 26 Live Cattle are at $230.200, down $2.125,
Aug 26 Feeder Cattle are at $347.400, down $4.150
Sep 26 Feeder Cattle are at $344.400, down $4.275
Oct 26 Feeder Cattle are at $341.150, down $4.150
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
