Cattle Extends Losses to Tuesday
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Live cattle futures experienced losses of $1.52 to $2.52 on Tuesday, with feeder cattle futures down $2.20 to $2.55. The CME Feeder Cattle Index decreased by $1.32 to $374.37. The OKC feeder cattle auction reported 5,867 head sold, steady to $2-4 lower. Wholesale Boxed Beef prices were lower, with Choice boxes up $2.62 to $386.18 and Select up $3.59 to $387.20. USDA estimated cattle slaughter at 111,000 head for Tuesday, down 8,000 from last week and 17,274 from last year.
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