Cattle Slips off Session Highs, Still Close with Gains

Live cattle futures closed with Monday session with contracts 72 cents to $2.17 higher across the board, though most contracts were nearly $2 off the intraday highs. Cash trade was slow last week, sales creeping up to $258-260 across the country. Feeder cattle futures were $2.77 to $4.35 lower at the close. The CME Feeder Cattle Index was up $1.88 on June 19 to $370.56. 

The weekly NASS Crop Progress report showed the US pasture rating at 33% gd/ex, up 1% from the week prior. The Brugler500 index was up 6 points to 286.

Managed money was adding back 15,347 contracts to their net long position in the week that ended on June 16, taking it to 124,349 contracts in live cattle futures and options. CFTC data showed specs in feeder cattle futures and options adding just 2,203 contracts to their net long to 13,123 contracts by Tuesday. 

USDA Cattle on Feed data from Thursday afternoon showed May placements down 9.7% from a year ago and below estimate calling for a 5.5% drop from a year ago. Marketings were down 11.77% compared to 2025 at 1.551 million head. June 1 on feed inventory was 2.09% larger than the same period last year at 11.682 million head.

Wholesale Boxed Beef prices were higher in the Monday PM report, with the Chc/Sel spread at $20.47. Choice boxes were up $1.69 to $396.06, while Select was $3.51 higher at $375.59. USDA’s federally inspected cattle slaughter for Monday was estimated at 106,000 head. That was up 7,000 from the previous Monday but 4,758 head below the same Monday last year.

Jun 26 Live Cattle  closed at $255.825, up $1.025,

Aug 26 Live Cattle  closed at $247.350, up $0.725,

Oct 26 Live Cattle  closed at $241.000, up $1.025,

Aug 26 Feeder Cattle  closed at $370.425, up $3.825,

Sep 26 Feeder Cattle  closed at $368.825, up $4.150,

Oct 26 Feeder Cattle  closed at $366.025, up $4.275,