Live cattle futures were in rally mode on Thursday with gains of $2.55 to $4.80. Limits are expanded to $12.75 for today following the limit gains in feeders for Thursday. Open interest suggested a rotation of ownership, up just 86 contracts. Cash trade has crept up to $256-257 the week, with sales of $403-407 in the beef. The Thursday Fed Cattle Exchange showed sales of $256.50 on 284 of the 1,116 head offered and another $405-$405.50 dressed sales on another 80 head. Feeder cattle futures bought the fact following the screwworm confirmation on Wednesday, with gains of $10.40 to the $10.75 limit. Limits are expanded to $16 for today. Open interest was down 354 contracts, with July dropping 1,029 contracts, and the rest higher. The CME Feeder Cattle Index was down another $4.93 on June 1 to $359.21.
Late on Wednesday evening, the USDA confirmed a case of the New World Screwworm in South Texas after testing a suspected case in a 3-week old calf in Zavala county.Â
The Thursday APHIS update on the New World Screwworm showed a total of 2,077 active cases of in Mexico as of Wednesday. There were 155 active cases in the bordering state of Tamaulipas (10 within a range of 79-98 miles of the US border), 83 active in Nuevo Leon (28 within a range of 50-98 miles of the US border), and 35 in Coahuila (22 within 25-97 miles of the US border).
The weekly Export Sales report showed 5,020 MT of beef sold for 2026 in the week ending on May 28. That was the second lowest for the calendar year. Shipments were pegged at 10,284 MT, which was the lowest for the year.
Wholesale Boxed Beef prices were lower in the Thursday PM report, with the Chc/Sel spread at $9.62. Choice boxes were down $3.20 to $392.66, while Select was $1.39 lower at $383.04. USDA estimated federally inspected cattle slaughter for Thursday at 108,000 head, with the weekly total at 428,000 head. That was down 49,665 head from the same week last year.Â
Jun 26 Live Cattle  closed at $249.175, up $2.550,
Aug 26 Live Cattle  closed at $241.525, up $3.675,
Oct 26 Live Cattle  closed at $233.800, up $4.800,
Aug 26 Feeder Cattle  closed at $353.375, up $10.750,
Sep 26 Feeder Cattle  closed at $350.075, up $10.750,
Oct 26 Feeder Cattle  closed at $346.650, up $10.750,
On the date of publication, Austin Schroeder 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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