Live Cattle Futures Market News and Commentary
Live cattle futures were up 17 cents to $1.55 on Monday, with the front months the strongest. Cash trade has yet to develop this week, though USDA did show a few $142 sales in the North on Monday. Feeders were pressured by the strength in corn, with most contracts down 47 to 85 cents. The 5/12 CME Feeder Cattle Index was down 25 cents to $156.36.
USDA Wholesale Boxed Beef report on Monday afternoon showed Choice up $1.36 to $260.31 and Select $1.77 higher at $245.67. The Chc/Sel spread is at $14.64. USDA estimated FI cattle slaughter at 124,000 head for Monday, that is up 3,000 wk/wk and 10,000 head larger yr/yr.
Jun 22 Cattle closed at $133.175, up $1.100,
Aug 22 Cattle closed at $133.900, up $1.550,
Oct 22 Cattle closed at $139.850, up $0.725,
May 22 Feeder Cattle closed at $157.400, down $0.475
Aug 22 Feeder Cattle closed at $167.425, down $0.600