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Live cattle futures saw losses of $1.50 to $1.65 in the front months on Tuesday. Feeder cattle futures were $1.58 to $2 lower. The CME feeder cattle index was down 20 cents on May 14 at $135.92. Wholesale boxed beef values were mixed on Tuesday afternoon. Choice boxes were down 48 cents at $231.64, with Select boxes 39 cents higher at $209.51. Our studies tend to show boxed beef prices will follow cash with a 1-2 week lag. FI cattle slaughter was estimated at 236,000 head through Tuesday. That is down 2,000 head from last week but 3,000 head larger than the same week last year. A few early cash trades at $117 were reported across the Plains on Tuesday.

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