Live cattle were down on 30 to 80 cents on Thursday, as the overbought market comes into the end of the month. Cash action has been quiet this week with some light $190 reported in the North and $186 in the South. The Central Stockyards online Fed Cattle Exchange auction saw no sales on the 1,080 head listed for Thursday, with bids of $186-186.50 and asks of $188. They had sales of $188 in TX, $191.50 in IA, and $300 in the beef on another lot out of IA in the Wednesday auction. Feeders closed out the Thursday session with contracts down $1.10 to $1.175. The CME Feeder Cattle Index was up 60 cents on May 29 to $249.28.
USDA’s Wholesale Boxed Beef prices were higher on Thursday afternoon. Choice boxes were up another 42 cents at $314.04, with Select 4 cents higher to $302.52. The Chc/Sel spread has widened to $11.52. USDA estimated Thursday’s FI cattle slaughter at 125,000 head, with the WTD total at 375,000. That is well below last week due to the holiday and down 4,934 head from the same week last year.
Jun 24 Live Cattle closed at $182.550, down $0.800,
Aug 24 Live Cattle closed at $179.775, down $0.425,
Oct 24 Live Cattle closed at $182.125, down $0.325,
Aug 24 Feeder Cattle closed at $259.075, down $1.175,
Sep 24 Feeder Cattle closed at $260.675, down $1.125,
Oct 24 Feeder Cattle closed at $261.450, down $1.100,
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