Cattle Trying to Bounce Off Early Lows into the Long Weekend

Live cattle futures are up 22 cents to 85 cents lower. Cash trade from this week has been $260 to $265 across the country. The Friday Fed Cattle Exchange online auction showed $259 sales on 104 of the 652 head offered, with $258 bids on the remaining. Feeder cattle futures are trading with contracts pulling off the lows, but still down $7.72 to $8.60. Feeders will expanded limits of $13.75 on Friday, with expanded live cattle limits of $10.75. The CME Feeder Cattle Index was down $1.72 to $370.72 on May 20. The CME will be closed on Monday for Memorial Day, with the Tuesday session showing a normal open.

The Thursday APHIS update on the New World Screwworm showed a total of 2,014 active cases of in Mexico as of Wednesday. There were 150 active cases in the bordering state of Tamaulipas (8 within a range of 82-96 miles of the US border), 94 active in Nuevo Leon (14 within a range of 57-99 miles of the US border), and 15 in Coahuila (1 within 72 miles of the US border).

USDA will release Cattle on Feed data this afternoon, as traders are looking for April placements to be up 3.4% from a year ago. Marketings are seen down 9.3% compared to 2025. May 1 on feed is expected to total 1.6% larger than the same period last year.

Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel spread at $3.60. Choice boxes were down $1.59 to $389.89, while Select was 64 cents higher at $386.29. USDA estimated federally inspected cattle slaughter for Thursday at 109,000 head, with the weekly total at 427,000 head. That was up 1,000 head from the week prior but 47,733 head below the same week last year. 

Jun 26 Live Cattle  are at $249.375, up $0.225,

Aug 26 Live Cattle  are at $239.150, down $0.200,

Oct 26 Live Cattle  are at $230.100, down $0.850,

Aug 26 Feeder Cattle  are at $347.925, down $8.600

Sep 26 Feeder Cattle  are at $345.000, down $8.375

Oct 26 Feeder Cattle  are at $341.900, down $7.725