Cattle Futures Close on a Mixed Note

Live cattle futures ended the Tuesday session on a mixed note, as contracts were anywhere from 22 cents higher to 7 cents lower in the nearbys. Cash trade has yet to see a broad test this week, with some light $219 KS sales reported on Monday. Last week’s Southern sales were $218-220 and $229 in the north. Feeder cattle futures were steady to 35 cents higher in the front months, and weaker in the fall contracts. The CME Feeder Cattle Index was down another $1.53 on May 19 with an average price at $297.33. 

USDA’s Tuesday afternoon National Wholesale Boxed Beef report was higher, with the Chc/Sel spread widening back out to $13.79. Choice boxes were up $3.94 at $358.75, while Select was quoted 85 higher at $344.96 per hundred pounds. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 120,000 head, taking the weekly total to 235,000 That is up 15,000 head from the week prior but down 807 head from the same week last year.

Jun 25 Live Cattle  closed at $213.175, up $0.200,

Aug 25 Live Cattle  closed at $207.850, down $0.075,

Oct 25 Live Cattle  closed at $205.300, up $0.225,

May 25 Feeder Cattle  closed at $296.000, up $0.325,

Aug 25 Feeder Cattle  closed at $297.500, up $0.025,

Sep 25 Feeder Cattle  closed at $296.200, down $0.125,

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