Live Cattle (P) Futures PricesThursday, May 23rd, 2013
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Cattle futures are trading 20 to 40 cents lower this morning. Wholesale prices set another new record high for Choice at $211.37 today. 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 this morning 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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