Live cattle futures are trading with $2.17 to $2.50 gains so far on Tuesday. Cash action was mostly compiling showlists on Monday. Trade last week saw sales at $230-233 in the North and $223-225 in the South. The Tuesday morning Fed Cattle Exchange online auction showed no bids on the 1,064 head offered.

Feeder cattle futures are reacting with some negatively to the border reopening, with contracts down $4.10 to $4.30 at midday. The CME Feeder Cattle Index was up $2.10 to $314.07 on June 27. The weekly OKC feeder cattle auction showed 4,764 head estimated in Monday’s sale, with prices steady to $4 higher. The USDA announced a risk based reopening of the border with Mexico on Monday afternoon starting on July 7. The port opening will be in phases, starting in Arizona.

USDA Wholesale Boxed Beef prices were higher in Tuesday morning’s report, with the Chc/Sel spread narrowing to $10.79. Choice boxes were up 25 cents to $395.56, while Select was quoted 92 cents higher at $385.02/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 118,000 head. That was 7,000 head above the previous Monday and 2,680 head above the same week last year. 

Aug 25 Live Cattle  are at $211.375, down $2.500,

Oct 25 Live Cattle  are at $208.025, down $2.150,

Dec 25 Live Cattle  are at $208.475, down $2.175,

Aug 25 Feeder Cattle  are at $306.400, down $4.275

Sep 25 Feeder Cattle  are at $306.475, down $4.150

Oct 25 Feeder Cattle  are at $304.425, down $4.100