Live cattle closed the Friday session with contracts up 67 cents to $2.02. June was up $4.90 on the week. USDA reported cash sales of $186-190 across the country on Friday, helped by the beef strength this week. Feeder cattle closed with gains of $1.12 to $2.50 on Friday, as May was up $7.92 on the week. The CME Feeder Cattle index was up 71 cents on May 16 to $243.04 and converging nicely with May FC futures.
USDA’s Wholesale Boxed Beef prices continued to shoot higher in the Friday morning report, with retailers buying for Memorial Day features. Choice boxes were up another $3.30 at $313.45, with Select 89 cents higher to $297.40. That raised the Chc/Sel spread to $16.05. USDA estimated federally inspected cattle slaughter at 102,000 head on Friday, with the weekly total at 598,000 head through Saturday. That would be down 24,000 head from last week and 42,266 head below the same week last year.
Jun 24 Live Cattle closed at $181.050, up $2.025,
Aug 24 Live Cattle closed at $179.050, up $1.675,
Oct 24 Live Cattle closed at $181.950, up $1.325,
May 24 Feeder Cattle closed at $246.725, up $1.875,
Aug 24 Feeder Cattle closed at $259.850, up $2.500,
Sep 24 Feeder Cattle closed at $260.850, up $2.450,
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