Front month fat cattle futures are $0.77 to $1.85 higher through Thursday’s midday. The Feb contract is now a $17.50 premium to nearby June. Thursday’s FCE sold 398 of the 2,045 head listed, from $135 to $136. The other listings went unsold between $134-$135 bids and $136-$138 asks. Yesterday, a pen of CO steers went for $138 on the FCE. USDA confirmed Southern trade near $135 this week, with cattle trading hands in NE near $139.
Feeder cattle futures are up triple digits into the midday quotes. August futures are up the most on a 1.9% gain of $3.25. There is a still $5.75 carry from August to November. The CME Feeder Cattle Index was $153.36 on 5/31, back up by 14 cents.
Wholesale Boxed Beef prices were mixed in USDA’s morning report. Choice slipped 67 cents to $266.75 and Select was up $1.28 to $250.19. USDA estimated FI cattle slaughter at 125k head for Wednesday, setting the week’s kill at 254k head. That is not comparable wk/wk due to the holiday, but is up from 206k head during the same week last year.
Jun 22 Cattle are at $133.575, up $0.775,
Aug 22 Cattle are at $134.050, up $1.150,
Oct 22 Cattle are at $139.600, up $1.700,
Aug 22 Feeder Cattle are at $172.925, up $3.200
Sep 22 Feeder Cattle are at $175.400, up $3.000
/Alphabet%20Inc_%20and%20Google%20logos%20by%20IgorGolovinov%20via%20Shutterstock.jpg)
/Nvidia%20logo%20and%20sign%20on%20headquarters%20by%20Michael%20Vi%20via%20Shutterstock.jpg)
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
