Live cattle are trading with mixed action on Monday, as contracts are anywhere from 55 cent higher to 15 cents lower across the front months. USDA reported cash sales of $186 in the South, up to $190 in the North last week, $2-3 higher. Feeder cattle are down 52 to 80 cents across most contracts, with May up 22 cents. 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 climb higher in the Monday morning report. Choice boxes were up another 80 cents at $314.25, with Select $3.95 higher to $301.35. That narrowed the Chc/Sel spread to $12.90. 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 are at $181.600, up $0.550,
Aug 24 Live Cattle are at $178.925, down $0.125,
Oct 24 Live Cattle are at $182.225, up $0.275,
May 24 Feeder Cattle are at $246.950, up $0.225
Aug 24 Feeder Cattle are at $259.050, down $0.800
Sep 24 Feeder Cattle are at $260.225, down $0.625
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