Live cattle futures are 50 to 75 cents higher on Tuesday, while feeder cattle futures surged $3.65 to $4.10 at midday. Cash trade last week ranged from $232 to $233, with a few at $235, and early bids near $233 on Monday have yet to generate significant activity. The CME Feeder Cattle Index rose $1.06 on July 31 to $346.89, and Monday's OKC feeder cattle auction saw 2,662 head sold with steer prices $5 to $10 higher and heifer prices up $5 to $15. USDA data showed the US pasture rating at 25 percent good to excellent, down 4 percentage points from the prior week, while the Brugler500 index fell 11 points to 259. Beef exports in June totaled 199 million pounds on a carcass basis, the lowest June total since 2020 but a three-month high. Wholesale boxed beef prices were higher, with Choice boxes up $2.76 at $369.49 and Select $1.29 higher at $345.74. Federally inspected cattle slaughter for Monday was estimated at 90,000 head, down 2,000 from the previous Monday and 11,616 below the same week last year.
Feeder cattle index up and auction prices higher
Pasture ratings down and slaughter down support cattle prices
