Live cattle are down anywhere from a tick to $1.02 at midday to start June trade. 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 are slipping $1.25 to $2 lower on Monday. The CME Feeder Cattle Index was down $1.04 on May 30 to $248.24.
USDA’s Wholesale Boxed Beef prices back higher in the Monday morning report. Choice boxes were up $1.35 at $314.55, with Select $2.24 higher to $303.95. The Chc/Sel spread has narrowed to $10.60. USDA estimated last week’s FI cattle slaughter at 540,000 through Saturday. That is well below last week due to the holiday and down 28,423 head from the same week last year.
Jun 24 Live Cattle closed at $181.525, down $0.025,
Aug 24 Live Cattle closed at $177.850, down $0.600,
Oct 24 Live Cattle closed at $179.775, down $1.025,
Aug 24 Feeder Cattle closed at $254.625, down $1.775,
Sep 24 Feeder Cattle closed at $256.600, down $1.525,
Oct 24 Feeder Cattle closed at $257.425, down $1.550,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
