June fat cattle were the exception for a Monday cattle market rally. The contract ended down by 7 cents, as the other nearby futures closed up by 30 to 97 cents. Feeders were also higher, with 0.5% to 0.9% triple digit gains. USDA quoted the bulk of last week’s cash sales at $170 for the South and $175 - $177 for the North last week. The CME Feeder Cattle Index was $1.53 higher to $202.11 on 5/12.
PM Boxed Beef prices were mixed as Choice dropped $2.63 to $301.98 and Select was up by 3 cents. USDA estimated Monday’s FI cattle slaughter at 126k head. That matches last week and is 3,000 more than the same Monday last year.
Jun 23 Cattle closed at $164.325, down $0.075,
Aug 23 Cattle closed at $162.750, up $0.300,
Oct 23 Cattle closed at $167.125, up $0.975,
May 23 Feeder Cattle closed at $206.500, up $1.025
Aug 23 Feeder Cattle closed at $231.050, up $2.075
Sep 23 Feeder Cattle closed at $233.850, up $1.875
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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