Live Cattle Futures PricesFriday, May 24th, 2013
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June cattle futures are up more than 57 cents this morning, but August futures are only 25 cents higher. Wholesale prices set another new record high for Choice boxed beef on Thursday afternoon at $211.37. The Choice/Select spread widened, with Select boxed beef 67 cents lower. Estimated week to date slaughter through Thursday is 497,000 head. That is still 1,000 more than last week, but 5,000 smaller than year ago. USDA reported that 20,400 MT of beef was sold in the export market last week, helping to explain some of the strength in the wholesale beef market. Some cash cattle trade was reported at $124 in the South and $202 in the North, but volumes are still low.
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