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IPC Index — Mexico MarketLive cattle futures posted higher trade on Monday, with contracts up 75 cents to $1.20. Cash action was quiet on Monday, with last week’s Southern sales at $218-220, steady, and $229 in the north. Feeder cattle futures were mixed on the day, with front months down 12 cents to $1.17 and some fall contracts higher. The CME Feeder Cattle Index was down $1.97 on May 16 with the average price at $298.86. The weekly OKC feeder cattle auction has an estimated 9,400 head for sale, with a lower undertone noted early.
Crop Progress data showed 40% of the US pasture ground rated at good/excellent, up 4% from the previous week, as the Brugler500 index was up 8 points to 303.
USDA’s National Wholesale Boxed Beef report from Monday morning was higher, with the Chc/Sel spread at $10.70. Choice boxes were up $2.32 at $354.81, while Select was quoted $1.72 higher at $344.11 per hundred pounds. USDA’s Federally inspected cattle slaughter for Monday was estimated at 115,000 head. That is up 16,000 head from the week prior but down 3,333 head from the same Monday last year.
Jun 25 Live Cattle closed at $212.975, up $0.750,
Aug 25 Live Cattle closed at $207.925, up $1.175,
Oct 25 Live Cattle closed at $205.075, up $1.100,
May 25 Feeder Cattle closed at $295.675, down $1.175,
Aug 25 Feeder Cattle closed at $297.475, down $0.125,
Sep 25 Feeder Cattle closed at $296.325, up $0.050,
