Live cattle futures are mostly lower on Monday, with June being held up by the cash market. The rest of the front months are down 30 to 40 cents. Cash trade was strong last week, with a few sales at $186 reported in KS by USDA and some up to $195. USDA also indicated $196-198 trade in NE, a record in the cash market. Feeder cattle futures are trading with midday losses of anywhere from a tick to $1.05. The CME Feeder Cattle Index was up 27 cents on June 13 at $256.13.
USDA reported wholesale Boxed Beef prices extending the strength Monday morning. Choice boxes were up 75 cents to $320.64/cwt with Select another $2.40 higher at $306.21. The Chc/Select spread narrowed to $14.43. USDA estimated FI slaughter for last week at 615,000 head for the week through Saturday. That is up 1,000 head from the previous week but was 11,124 head below the same week last year.
Jun 24 Live Cattle are at $187.175, up $0.350,
Aug 24 Live Cattle are at $182.775, down $0.400,
Oct 24 Live Cattle are at $184.500, down $0.350,
Aug 24 Feeder Cattle are at $261.050, down $0.925
Sep 24 Feeder Cattle are at $262.375, down $0.325
Oct 24 Feeder Cattle are at $263.075, down $0.025
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