Live Cattle (P) Futures PricesFriday, May 25th, 2012

Cattle futures ended the day session lower and were down $1.88 for the week. The weekly CFTC report showed Managed Money had increased their net long by 11,682 contracts. Week to date slaughter is estimated at 626,000 head. Cash cattle prices remain above the spot futures price with the Five Area Direct prices at $122.50 for all grades in the live and $193.50 for all grades in the dressed as of Thursday with hardly any trade on Friday ahead of the three day weekend. Wholesale beef closed out the day lower. Choice beef was down $0.93 and Select beef was down $1.38. Beef prices at the retail level are expected to be 3.5 to 4.5% higher in 2012 than in 2011 which is above the expected increase of 2.5 to 3.5 in general food prices. Total beef production is down substantially from 2011.

Jun 12 Cattle closed at $117.650, down $0.225,
Aug 12 Cattle closed at $119.100, down $0.700,
Oct 12 Cattle closed at $123.500, down $0.675,
Aug 12 Feeder Cattle closed at $158.500, down $0.350
Sep 12 Feeder Cattle closed at $159.475, down $0.625
Oct 12 Feeder Cattle closed at $160.750, down $0.425