Cattle Retreat Lower on Turnaround Tuesday

Live cattle futures were down 95 cents to $1.80 across the board on Tuesday. Cash trade started to creep in this week a $255 in the south this week, near the $255-258 trade from last week. Feeder cattle futures posted losses of $2.20 to $3.55 at the close. The CME Feeder Cattle Index was down $2.88 on June 1 to $364.26. 

The Tuesday APHIS update on the New World Screwworm showed a total of 1,981 active cases of in Mexico as of Monday. There were 181 active cases in the bordering state of Tamaulipas (15 within a range of 74-98 miles of the US border), 96 active in Nuevo Leon (28 within a range of 52-98 miles of the US border), and 31 in Coahuila (18 within 25-97 miles of the US border).

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 afternoon report, with the Chc/Sel spread at $9.26. Choice boxes were up $1.24 to $394.07, while Select was $1.72 higher at $384.81. USDA estimated federally inspected cattle slaughter for Tuesday at 110,000 head, with the weekly total at 214,000 head. That was down 24,099 head from the same week last year. 

Jun 26 Live Cattle  closed at $247.675, down $1.325,

Aug 26 Live Cattle  closed at $239.650, down $0.950,

Oct 26 Live Cattle  closed at $230.875, down $1.450,

Aug 26 Feeder Cattle  closed at $348.425, down $3.125,

Sep 26 Feeder Cattle  closed at $345.125, down $3.550,

Oct 26 Feeder Cattle  closed at $341.750, down $3.550,