Live cattle futures rounded out Tuesday with contracts holding steady, and the nearbys within a nickel of unchanged. Cash trade settled in last week $218-220 in the South, with northern action at $225-228. Feeder cattle futures closed out the Tuesday session with contracts down a nickel to 40 cents. The CME Feeder Cattle Index was up another $1.37 on May 12, with the average price at $302.40. The Monday OKC Feeder Cattle auction showed 6,387 head sold, with sales on feeders up $2 to $6.
USDA’s National Wholesale Boxed Beef prices were mixed on Tuesday afternoon, with the Chc/Sel spread at $15.63. Choice boxes were up $1.96 at $350.10, while Select was quoted 76 cents lower at $334.47 per hundred pounds. That would be a record high for choice, excluding the COVID spike in 2020. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 121,000 head, with a weekly total at 220,000 head. That is down 10,000 head from the week prior, and down 18,681 head from the same week last year.
Jun 25 Live Cattle closed at $216.325, down $0.500,
Aug 25 Live Cattle closed at $211.625, up $0.025,
Oct 25 Live Cattle closed at $208.450, up $0.000,
May 25 Feeder Cattle closed at $302.825, down $0.275,
Aug 25 Feeder Cattle closed at $306.000, down $0.375,
Sep 25 Feeder Cattle closed at $305.050, down $0.050,
