Live Cattle Futures PricesMon, May 23rd, 2016
Open Interest is for the previous day's trading session.
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Live cattle futures were sharply lower today on the larger than expected placements shown in the monthly Cattle on Feed Report published Friday afternoon. Several contracts were limit down for both live and feeder cattle, but May feeders closed at $147, losing just $1.625 on the day because of the need to converge with the Index by COB on Thursday. The CME feeder cattle index for 5/20 is $150.42, up $1.89 from the previous average. Cash cattle sales on Friday were reported from $126 to $130 live, and $204 to $206 dressed. Choice boxed beef prices were down $1.64 in the Monday afternoon report, while select boxes averaged $1.27 lower. Estimated FI slaughter on Monday was 111,000 head vs. 113,000 head last week. USDA monthly Cold Storage report showed frozen beef stocks as of April 30 down 6.60% vs. a year ago, and down 3.19% from the March 2016 figure. USDA had pasture and range conditions improving slightly overall tonite, now with 63% rated good or excellent.
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