Live Cattle Futures Market News and Commentary
Cattle futures are trading in both directions so far, with nearby futures in the red and the deferreds as much as 65 cents higher. Feeder cattle futures are up at midday with triple digit gains in the front months. The May 28 CME Feeder Cattle Index was $2.34 higher to $129.36. There are no cash cattle sales reported for the week yet, last week’s range was mostly $115 to $120. Wholesale boxed beef prices were lower to start the new week with the spread narrowing this morning to $20.64. Choice was down $13.03 and Select was $10.40 lower. Weekly FI cattle slaughter was estimated at 524,000 head through Saturday. The week’s total was only 31,000 head below last week despite the holiday.
Jun 20 Cattle are at $99.250, down $0.475,
Aug 20 Cattle are at $99.575, down $0.025,
Oct 20 Cattle are at $101.925, up $0.500,
Aug 20 Feeder Cattle are at $136.375, up $1.025
Sep 20 Feeder Cattle are at $137.150, up $1.400
Oct 2... Read more