Live cattle futures on the Chicago Mercantile Exchange were stronger on Tuesday, seeing a continuation of Monday’s gains as values remain near record highs.
The ongoing shutdown of the United States government will likely delay the publication of monthly cattle on feed data scheduled to come out on Friday. However, market expectations are for a decline in placements on the year.
The December live cattle contract gained 1.775 cents per pound on Tuesday, at 245.425 cents. The nearby November feeder cattle contract was up 0.800 cents per pound at 373.475 cents per pound, with the January contract up 1.100 cents at 370.275 cents per pound.
The U.S. Department of Agriculture reported wholesale boxed beef prices were mixed, with choice boxes $2.75 higher at $371.93 per hundredweight and select boxes down $0.89 at $352.57/cwt.
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