Live Cattle Futures Market News and Commentary
Live cattle futures closed mixed as the nearby June and August months held onto 7 to 10 cent gains due to the firmer cash market. The deferred months ended the day 2 to 27 cents weaker, which loosened the Dec-June premium to $11.42. USDA reported light Thursday cash business from $136 - $144. The bulk for the week has been $137 in the South and near $140 in NE. Feeder cattle futures closed Thursday $1.10 to $1.32 in the red. May feeders expired at $154.57 on a two cent dip to be settled against the index. The 5/25 CME Feeder Cattle Index was $153.80, up by 45 cents.
USDA reported 20,010 MT of beef sales from the week that ended 5/19. That was down from the last two weeks and from the same week last year. Export shipments from the week were tallied as 17,508 MT. That was an 11 week low, but kept the YTD shipments at a record pace of 366,129 MT.
Wholesale Boxed Beef prices were quoted at $263.97 for Choice and $244.43 for Select, up by $1.04 and 37 cents respectively. F... Read more