The live cattle futures market worked higher to start the week, but futures were off their highs for the close. June futures were up by 72 cents at the bell, having seen a $1.65 range for FND. Preliminary OI had 18,302 contracts open in the June contract into the FND session. Cash trade was unestablished on Monday following the $175 - $180 Southern and $183 - $188 Northern business last week.
Feeder cattle futures closed with Monday gains of 62 to 70 cents. USDA’s OKC Feeder Auction review had 10.5k head sold, split 51% heifers and 44% steers. The CME Feeder Cattle Index for 6/2 was $216.12 after a sharp $8.08 increase.  Â
USDA’s Wholesale Boxed Beef report showed Choice boxes increased $4.26 and Select boxes were up by $5.80. That tightened the spread to $17.46. USDA estimated Monday’s FI cattle slaughter at 121,000 head. That is down from 123k last week but not comparable to Memorial Day.Â
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Jun 23 Cattle  closed at $177.150, up $0.725,
Aug 23 Cattle  closed at $173.275, up $0.375,
Oct 23 Cattle  closed at $176.325, up $0.325,
Aug 23 Feeder Cattle  closed at $242.600, up $0.700
Sep 23 Feeder Cattle  closed at $245.625, up $0.625
Oct 23 Feeder Cattle  closed at $247.650, up $0.650
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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