LIVESTOCK COMMENTS: The CME feeder cattle index value on June 22nd registered at $165.23 per hundred-weight, which is nearly $12 higher than the first day of June and the highest since December 31st, 2021 when the index was $165.35

CATTLE ON FEED: U.S. inventory reported at 11.8 million head on June 1st, up 1% from last year. This is the highest June 1 inventory on record. The U.S. inventory has been larger than 11 million head for 55 out of the last 56 months

U.S. CATTLE REPORT: Compared to last week: Feeders down 45 cents; Boxed beef down $1.28; Beef production down 0.4%; Cattle weights down another 2 lbs; Corn down 34 cents

NATIONAL STEER TRACKER: The largest steer string (700-899#) sold this week was 595 steers (854#) from West Plains, Missouri at $166.10. The average price for the top 10 steer strings sold this week was $166.96, compared to $164.29 last week

NATIONAL CATTLE TRACKER: The largest steer and heifer string sold this week was 595 steers (854#) from West Plains, Missouri at $166.10. The second largest string was 280 steers (970#) from Lexington, Nebraska at $166.85

NATIONAL CALF TRACKER: The largest calf string sold this week was 102 heifers (456#) from Carthage, Missouri at $174.00. The average price paid this week for the top 10 calf strings was $192.63, compared to $188.66 last week

U.S. EXPORT SALES: Corn sales up noticeably; Beef sales lowest in 2022

MEATBOARD PM: Boxed Beef Choice: $264.98 (+0.32); Pork Carcass: $112.20 (+2.43); Chicken Breast: $308.49 (+3.06) (Boxed beef down $1.28 from last Friday)

CME LIVESTOCK: Live Cattle: $133.375 (-0.50); Feeder Cattle: $172.50 (-2.35); Hogs: $106.775 (+3.10); Milk: $23.505 (-0.55) (USDA mentioned $2-3 higher cash trade in the WCB at $150 on Thursday)

CME GRAINS: Corn: $7.5025 (+3.50); Soybeans: $16.1075 (+17.50); Wheat: $9.2375 (-13.50); Cotton: $103.76 (-32.56) (With the no limit trading during the deliveries, July cotton tanks)

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