Live cattle are trading with 52 cent to $1.80 gains across most contracts on Tuesday. Cash trade this week has been relatively quite so far. USDA reported cash sales of $186 in the South, up to $190 in the North last week, $2-3 higher. Feeder cattle are showing gains of 80 cents to $2.20 across most contracts. The CME Feeder Cattle index was up $3.83 on May 17 to $246.87 and converging nicely with May FC futures.
USDA’s Wholesale Boxed Beef prices were back higher in the Tuesday morning print. Choice boxes were up $1.17 at $313.87, with Select $2.68 higher to $302.03. That narrowed the Chc/Sel spread to $11.84. Monday’s estimated federally inspected cattle slaughter was at 120,000 head by the USDA. That is up 4,000 head from last week but down 5,274 head below the same Monday last year.
Jun 24 Live Cattle are at $183.050, up $1.575,
Aug 24 Live Cattle are at $180.325, up $1.775,
Oct 24 Live Cattle are at $183.075, up $1.250,
May 24 Feeder Cattle are at $248.600, up $1.900
Aug 24 Feeder Cattle are at $259.700, up $1.225
Sep 24 Feeder Cattle are at $260.875, up $1.225
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