Live cattle futures were solidly higher on Tuesday, settling $1.20 to $2.37 higher and led by nearby August futures.  August is still being supported by cash cattle prices that are above the board, and substantially so in the north.  Last week’s cash trade was 187-188.50 across the south last week, down $1 to 50 cents higher from the previous week. In the north, trade was $196-198, steady to down $2 from the week prior. Feeder cattle futures followed the fats higher, settling with gains of $1.65 to $2.35. The CME Feeder Cattle Index was up $1.07 at $257.74 on July 22.

USDA wholesale Boxed Beef prices were lower in the PM report, with Choice boxes down 23 cents at $313.21 and Select product 1$1.67 lower ta t$296.66. The Chc/Sel spread is at $16.55. USDA estimated Tuesday FI slaughter at 123,000 head, putting the week to date at 238,000 vs. 248,000 head for the same Tuesday a year ago. 

Aug 24 Live Cattle  closed at $186.300, up $2.375,

Oct 24 Live Cattle  closed at $186.125, up $1.525,

Dec 24 Live Cattle  closed at $187.400, up $1.375,

Aug 24 Feeder Cattle  closed at $258.750, up $2.350,

Sep 24 Feeder Cattle  closed at $258.600, up $2.100,

Oct 24 Feeder Cattle  closed at $258.425, up $2.175,