Live cattle futures closed Tuesday with contracts down 35 to 77 cents, as nearby October was a tick higher. Cash trade has been quiet early this week as feedlots were compiling showlists. Last week awas $228 in the North, with a few southern sales at $230. Feeder cattle futures saw gains of 7 cents to $2.90 on Tuesday, with a few deferreds lower. The CME Feeder Cattle Index was up $2.12 on October 23 to $350.67. The Monday OKC feeder cattle auction showed sales on 5,506 head, with action noted $5-15 higher for steers and lighter weight steers up $20-30.
Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel at $13.37. Choice boxes were up $2.78 to $372.22, with Select up $1.29 to $358.85. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, taking the week’s total to 216,000 head. That was down 1,000 head from the week prior and 7,780 head above the same week last year.
