Cattle Close Mixed After Back and Forth Tuesday Trade

Live cattle futures closed with losses of 45 cents to $1.07 in the nearbys and 17 to 45 cent gains in back months. Cash trade from last week was $260 to $265 across the country. Feeder cattle futures saw back and forth trade, with contracts closing anywhere from 40 cents to 65 cents higher. The CME Feeder Cattle Index was up $1.36 to $371.49 on May 25. 

The Tuesday APHIS update on the New World Screwworm showed a total of 1,970 active cases of in Mexico as of Monday. There were 168 active cases in the bordering state of Tamaulipas (10 within a range of 79-96 miles of the US border), 96 active in Nuevo Leon (17 within a range of 57-99 miles of the US border), and 15 in Coahuila (5 within 55-80 miles of the US border).

The Monday Crop Progress report showed US pasture ratings at 29% in good/excellent category, up 1% from last week. The inclusive Brugler500 index was steady at 267 (100-500 point scale).

USDA’s Cattle on Feed report showed April placements at 1.702 million head, up 5.52% vs. last year and above the +3.4% estimates. Marketings were down 10.03% from a year ago at 1.642 million head. May 1 on feed inventory was tallied at 11.584 million head, up 1.83% yr/yr. compared to estimates looking for a 1.6% increase.

Wholesale Boxed Beef prices were lower in the Tuesday PM report, with the Chc/Sel spread at $2.60. Choice boxes were up $2.63 to $392.90, while Select was $5.30 higher at $390.30. USDA estimated federally inspected cattle slaughter for Tuesday at 111,000 head, with the weekly total at 112,000 head. That was down 7,704 head from the same Memorial Day Week last year.

Jun 26 Live Cattle  closed at $248.225, down $1.075,

Aug 26 Live Cattle  closed at $239.150, down $0.450,

Oct 26 Live Cattle  closed at $230.950, up $0.225,

Aug 26 Feeder Cattle  closed at $349.450, down $0.400,

Sep 26 Feeder Cattle  closed at $347.025, up $0.125,

Oct 26 Feeder Cattle  closed at $343.900, up $0.275,