Live cattle are posting mixed trade on Friday, as contracts are down 55 cents to 22 higher across the board. Cash trade has been slow to develop this week, with trade reported this morning at $184-185 in the South and $186 in the North. Feeders are trading with contracts 40 cents to $1.40 in the red. The CME Feeder Cattle index was down another 7 cents on May 8 to $240.38.
Quarterly beef production was estimated to rise by a total of 140 million lbs for the 2024 total to 26.595 billion. USDA added 70 million to Q2, 40 million to Q3, and 35 million lbs to Q4.
USDA’s Wholesale Boxed Beef prices were lower in the Friday morning report. Choice boxes were down $1.19 at $294.20, with Select 85 cents lower to $284.91. That trimmed the Chc/Sel spread to $9.29. USDA estimated federally inspected cattle slaughter on Thursday at 122,000 head, taking the weekly total to 489,000 head. That is 9,000 head above last week but down 16,363 head from the same week last year.
Jun 24 Live Cattle are at $175.400, down $0.550,
Aug 24 Live Cattle are at $173.275, down $0.450,
Oct 24 Live Cattle are at $176.550, down $0.450,
May 24 Feeder Cattle are at $237.850, down $0.800
Aug 24 Feeder Cattle are at $249.650, down $1.400
Sep 24 Feeder Cattle are at $250.550, down $1.525
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