Live cattle futures are down $3.60 to $4.475 so far on Monday. Cash trade was mainly $256-258 last week. Feeder cattle futures are down $3.22 to $3.40 on the day. The CME Feeder Cattle Index was up another $2.17 on June 4 to $361.38. The weekly OKC feeder cattle auction has an estimated 5,000 head for sale today, with the early action steady to $5 higher on steers
There were two more cases of New World Screwworm reported in the US this morning, one in La Salle county, TX and another in a dog in Andrews county, TX that was reportedly recently in Mexico. Â
Friday afternoons Commitment of Traders report indicated spec funds in live cattle futures and options trimming 5,605 contracts from their net long position to 114,964 contracts as of Tuesday. In feeder cattle futures and options, managed money increased their net long by just 248,000 contracts to 10,843 contracts.
Wholesale Boxed Beef prices were mixed in the Monday AM report, with the Chc/Sel spread at $8.35. Choice boxes were down 67 cents to $392.03, while Select was 99 cents higher at $383.68. USDA estimated federally inspected cattle slaughter for last week at 533,000 head, down 48,299 head from the same week last year.Â
Jun 26 Live Cattle  are at $246.475, down $3.600,
Aug 26 Live Cattle  are at $237.200, down $4.450,
Oct 26 Live Cattle  are at $230.275, down $3.850,
Aug 26 Feeder Cattle  are at $350.500, down $3.400
Sep 26 Feeder Cattle  are at $347.475, down $3.350
Oct 26 Feeder Cattle  are at $344.000, down $3.225
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.
