Live cattle are extending the week’s gains, as contracts are up 17 to 50 cents at midday. Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,352 head listed on Wednesday morning, with bids of $181-181.25 and asks in the $185-186 range. Feeders are mostly higher, with gains of 12 to 62 cents. The CME Feeder Cattle index was up 39 cents on May 13 to $241.75.
USDA’s Wholesale Boxed Beef prices were higher again in the Wednesday morning report. Choice boxes were up another $2.98 at $307.37, with Select 85 cents higher to $294.67. That raised the Chc/Sel spread to $12.70. USDA estimated federally inspected cattle slaughter at 123,000 head for Tuesday, taking the weekly total to 239,000. That is down 5,000 head from last week and 12,957 head below the same week last year.
Jun 24 Live Cattle are at $178.350, up $0.175,
Aug 24 Live Cattle are at $176.625, up $0.500,
Oct 24 Live Cattle are at $179.775, up $0.425,
May 24 Feeder Cattle are at $243.400, up $0.125
Aug 24 Feeder Cattle are at $256.075, up $0.400
Sep 24 Feeder Cattle are at $257.175, up $0.550
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