Livestock Close off Highs on Tuesday

Live cattle futures traded in a wide range on Tuesday, but ultimately went home 12 to 95 cents higher. June fats traded within a $1.40 range on both sides of UNCH. USDA reported cash sales on Tuesday were light within $144-$146 in the WCB and Colorado. Dressed sales in NE were also light from $230 - $232. Feeder cattle futures also pulled back into the bell, but were still $0.97 to $2.20 higher on the day. October feeders were $180 flat at the close. The CME Feeder Cattle Index fell another 40 cents on 4/29 to $155.24.

USDA’s Wholesale Boxed Beef quotes were weaker on Tuesday afternoon. Choice boxes slid $3 to $295.55, while Select was quoted $247.34 after an 89 cent dip. USDA estimated Monday’s federally inspected cattle slaughter at 126k head, bringing the week’s total to 237k after revising Monday lower. Last week’s pace was for 250k head, but the same week last year was even at 237k head as well.  

Jun 22 Cattle  closed at $135.325, up $0.125,

Aug 22 Cattle  closed at $137.325, up $0.275,

Oct 22 Cattle  closed at $144.525, up $0.475,

May 22 Feeder Cattle  closed at $162.400, up $0.975

Aug 22 Feeder Cattle  closed at $176.275, up $2.200