Live cattle futures are falling back at midday, with losses of $1.70 to $2.70. Monday was first notice day for June live cattle, with no deliveries issued. Cash trade has yet to see much action this week. Last week saw wide ranges, mostly $225-232 in the South and topping near $235. North action was mostly $240-242, reaching $244 in some spots.

Feeder cattle futures are down 90 cents to $1.15. The CME Feeder Cattle Index was up $4.30 on June 6 with an average price of $310.46. There were 4,293 head for sale in Monday’s OKC feeder cattle auction, with price action for feeders $5-10 higher.

USDA’s National Wholesale Boxed Beef prices were higher on Tuesday morning, narrowing the Chc/Sel spread to $11.34. Choice boxes were back up $3.91 at $371.16, while Select was quoted 89 cents higher at $358.82/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 115,000 head. That is even with last week but down 7,172 head from the same week last year.

Jun 25 Live Cattle  are at $225.300, down $1.700,

Aug 25 Live Cattle  are at $216.575, down $2.675,

Oct 25 Live Cattle  are at $213.725, down $2.150,

Aug 25 Feeder Cattle  are at $310.500, down $1.150

Sep 25 Feeder Cattle  are at $309.625, down $1.075

Oct 25 Feeder Cattle  are at $307.475, down $0.900