Live Cattle (P) Futures PricesMon, Jun 27th, 2016
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Live cattle futures closed 87.5 cents to $1.425 higher on Monday, led by Oct16 cattle. Feeders ended yesterday with gains from 97.5 cents to $1.225. The CME Feeder Cattle Index for 6/24 was down $1.06 to $140.21. Yesterday afternoon, the USDA announced that 61% of national pastures were in good to excellent condition, down 3 points from the previous week. Cash cattle trade reported a few live sales of $116 on Monday. Sales on Friday averaged $117.72 live, and $186.93 dressed. Last week, average live cash cattle sales were down $3.84 from the week before, and dressed sales were $5.86 lower. The average price of choice boxed beef was down $3.26 to $210.60 on Monday, and select boxes were 44 cents lower to $197.39. Retailers are done buying for the July 4 weekend except for clean up business. FI slaughter on Monday was estimated at 113,000 head, steady with both last Monday, and the same Monday in 2015.
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