Live cattle posted higher trade on Tuesday, with contracts closing 75 cent to $1.87 higher. Cash trade this week has been relatively quite so far, with a few light trades of $192 in the north being picked up. USDA reported cash sales of $186 in the South, up to $190 in the North last week. Feeder cattle saw gains of $1.35 to $2.25 across the board on Tuesday. The CME Feeder Cattle index was up 88 cents on May 20 to $247.75.
The average trade estimates for Friday’s Cattle on Feed report is to show April placements down 6.1% from last year, with April marketings up 9.8%. That would peg the May 1 on feed inventory down 0.8%.
USDA’s Wholesale Boxed Beef prices were higher in the Tuesday afternoon print. Choice boxes were up 32 cents at $313.02, with Select $1.52 higher to $300.87. That narrowed the Chc/Sel spread to $12.15. Tuesday’s estimated FI cattle slaughter was at 122,000 head by the USDA, taking the weekly total to 242,000 head. That is up 3,000 head from last week but down 11,357 head below the same week last year.
Jun 24 Live Cattle closed at $182.975, up $1.500,
Aug 24 Live Cattle closed at $180.425, up $1.875,
Oct 24 Live Cattle closed at $183.150, up $1.325,
May 24 Feeder Cattle closed at $248.950, up $2.250,
Aug 24 Feeder Cattle closed at $259.825, up $1.350,
Sep 24 Feeder Cattle closed at $261.125, up $1.475,
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