South Had Light Cash Cattle Activity $1-$2 Lower

Live cattle futures contracts posted gains of 0.8% to 1.2% gains of at least $1.47 per cwt. The October contract led the way with a $2.05 gain on Tuesday. Feeder cattle also saw strength on weaker corn prices and the higher live cattle, going home with $3.97 to $4.82 gains. USDA mentioned some light Southern cash trade from $178-$179 on Tuesday. June futures expire on Friday, and the rally brought values in line with the cash trade. The Tuesday FCE auction showed $177 bids but no sales on $180 asks for the 1,326 head listed. The CME Feeder Cattle Index was $224.97 on 6/26 after a $3.52 increase. 

Tuesday’s afternoon Wholesale Boxed Beef report had Choice boxes $3.81 weaker to $329.23 cwt. and Select boxes $1.24 lower to $298.43. The rib primals were shown $503.31 and $430.81 cwt. respectively. The week’s FI cattle slaughter was 251k head through Tuesday. That was 2,000 head lighter than last week and was 1,000 below the same week last year. 

Jun 23 Cattle  closed at $179.300, up $1.600,

Aug 23 Cattle  closed at $172.500, up $1.900,

Oct 23 Cattle  closed at $176.075, up $2.050,

Aug 23 Feeder Cattle  closed at $238.500, up $4.825

Sep 23 Feeder Cattle  closed at $241.975, up $4.475

Oct 23 Feeder Cattle  closed at $244.325, up $4.225