It was another quiet day in cattle country with asking prices around 168.00 to 170.00 in the South and 265.00 to 270.00 in the North, but so far not even a token bid on the table. Significant trade volume will be delayed until Thursday or Friday. The kill totaled 113,000 head, 1,000 below last week, and 10,000 smaller than last year.
Boxed beef cutout values were higher on moderate to fairly good demand and light to moderate offerings. Choice boxed beef was 1.52 higher at 262.86 and select was up 1.80 at 260.83.
Live cattle contracts on the Chicago Mercantile exchange settled 25 to 107 points higher. Futures trended higher at the open and traded on a firm basis throughout the session. Contracts were supported by signs of strong late July beef demand and friendly cash expectations. August settled 1.07 higher at 159.85, and October was up .85 at 159.92.