U.S. CATTLE REPORT: Big prices in Fredonia, Kansas; Chicken down from $360 to $302; Pork down $6.50 since Monday; Daily slaughter at 126K head

NATIONAL CALF TRACKER: The largest calf string sold on Tuesday was 66 steers (472#) from El Reno, Oklahoma at $213.00. The average price paid on Tuesday for the top 10 calf strings was $200.43

NATIONAL CATTLE TRACKER: The largest steer and heifer string sold on Tuesday was 535 heifers (792#) from Fredonia, Kansas at $169.25. This is the 2nd largest string sold in the U.S. so far in 2022

NATIONAL STEER TRACKER: The largest steer string sold on Tuesday on the National Steer Tracker (700-899#) was 330 steers (819#) from Fredonia, Kansas at $176.00. The average price for the top 10 steer strings sold on Tuesday was $166.06

MEATBOARD PM: Boxed Beef Choice: $267.14 (-1.54); Pork Carcass: $105.47 (-3.56); Chicken Breast: $302.26 (-4.79) (Pork cutout down more than $6.50 in the 2 days)

Boxed Beef PM: Choice: $267.14 (-1.54) Select: $243.31 (-1.93); Ch/Se Spread: $23.83 Total Loads: 154 compared to 99 on Monday

Progress... Choice+prime declined to the lowest level since pre-2020, nearing the 5-year average. This is a good explanation of why northern fed cattle prices are strong, strong enough to lift last week’s 5-area average fed cattle price to a new high for the year (The Beef)

USDA estimates daily cattle slaughter at 126K head, compared to 126K last week and 121K last year. WTD slaughter at 251K head, compared to 250K last week and 240K last year (Tue)

CME LIVESTOCK: Live Cattle: $132.725 (-0.75); Feeder Cattle: $171.825 (-2.30); Hogs: $103.825 (-1.05); Milk: $23.57 (+0.15)

CME GRAINS: Corn: $7.595 (+15.25); Soybeans: $16.6375 (+33.25); Wheat: $9.2125 (+17.25); Cotton: $100.12 (-0.23)

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