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Live cattle futures closed 87.5 cents to $1.425 higher, led by Oct16 cattle. Feeders ended the day with gains from 97.5 cents to $1.225. The CME Feeder Cattle Index for 6/24 was down $1.06 to $140.21. 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 just 44 cents lower to $197.39. The choice/select spread of $13.21 is the tightest since May 13. FI slaughter on Monday was estimated at 113,000 head, steady with both last Monday, and the same Monday in 2015. The USDA on Monday announced that 61% of national pastures were in good to excellent condition, down 3 points from the previous week.
Jun 16 Cattle settled at $115.925, up $1.225,
Aug 16 Cattle settled at $112.025, up $1.150,
Oct 16 Cattle settled at $112.300, up $1.425,
Aug 16 Feeder Cattle settled at $140.175, up $0.725
Sep 16 Feeder Cattle settled at $139.250, up $0.975
Oct 16 Feeder Cattle settled at $137.875, up $1.075