Cattle Posting Midday Gains

Live cattle futures are trading with contracts $1.3 to $1.55 higher at midday. Cash trade has seen some $260 sales in the South this week with, with northern trade at $408-415 dressed and $265 live. Feeder cattle futures are up $1.15 to 3.42 at midday.  The CME Feeder Cattle Index was up 9 cents to $373.23 on May 13. 

The Thursday APHIS update on the New World Screwworm showed a total of 1,831 active cases of in Mexico as of Wednesday. There were 144 active cases in the bordering state of Tamaulipas (7 within a range of 85-97 miles of the US border), 62 active in Nuevo Leon (14 within a range of 79-99 miles of the US border), and 12 in Coahuila.

After renewing and revoking over 400 expired export licenses earlier this week, China has renewed the export licenses for US beef plants. 

Wholesale Boxed Beef prices were stronger in the Friday morning report, with the Chc/Sel spread at a $1.76 premium to Select. Choice boxes were down $1.41 to $388.86, while Select was $1.62 higher at $390.62. USDA estimated federally inspected cattle slaughter for Thursday at 108,000 head, taking the weekly total to 426,000 head. That was up 4,000 head from last week but 34,262 head below the same week last year. 

Jun 26 Live Cattle  are at $253.475, up $1.400,

Aug 26 Live Cattle  are at $247.700, up $1.550,

Oct 26 Live Cattle  are at $239.375, up $1.300,

May 26 Feeder Cattle  are at $368.725, up $1.150

Aug 26 Feeder Cattle  are at $360.900, up $2.900

Sep 26 Feeder Cattle  are at $358.650, up $3.425