Live cattle settled 2 to 47 cents higher as we rolled into June. Cash cattle markets saw the North reported at $190 last week, down $2 on the week. The South traded hands at $186, a $1 pullback. Feeders were at one point $1.25 to $2 lower on Monday, but rallied to settle only 5 to 25 cents lower. The CME Feeder Cattle Index was back up $2.43 on May 31 to $250.77.
Crop Progress data showed a 3% improvement in the US pasture ratings at 51% gd/ex. The Brugler500 index was up 9 points to 335, with a weighted average of beef cow states at 353, up 9 points.
USDA’s Wholesale Boxed Beef prices were higher on Monday. Choice boxes were up $2.40 at $315.60, with Select $1.99 higher to $303.70. The Chc/Sel spread was at $11.90. USDA estimated Monday FI cattle slaughter at 120,000 head, matching year ago.
Jun 24 Live Cattle closed at $182.025, up $0.475,
Aug 24 Live Cattle closed at $178.875, up $0.425,
Oct 24 Live Cattle closed at $180.900, up $0.100,
Aug 24 Feeder Cattle closed at $256.200, down $0.200,
Sep 24 Feeder Cattle closed at $257.875, down $0.250,
Oct 24 Feeder Cattle closed at $258.850, down $0.125,
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