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.
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
