Live cattle futures were in rally mode on Monday, with contracts up $1.07 to $1.80. Cash trade has yet to see much this week, with last week at $221-223 in the South and some up to $225, with business at $234-237 in the North.
Feeder cattle futures saw a Monday rally, with contracts up $2.92 to $3.50 at the close. The CME Feeder Cattle Index was up $1.83 on May 30 with an average price of $301.13. The Monday OKC feeder cattle auction has an estimated 7,500 head for sale, with sales listed at 5 to 12 higher foe steers and steady to $4 higher on heifers.
USDA’s National Wholesale Boxed Beef prices were mixed in the Monday afternoon report, with the Chc/Sel spread at $7.89. Choice boxes were down 34 cents at $366.00, while Select was quoted $1.46 higher at $358.11/cwt. USDA’s Federally inspected cattle slaughter for Monday was 115,000 head. That is down 2,863 head from the same post-holiday week last year.
Jun 25 Live Cattle closed at $216.550, up $1.075,
Aug 25 Live Cattle closed at $211.000, up $1.650,
Oct 25 Live Cattle closed at $209.200, up $1.800,
Aug 25 Feeder Cattle closed at $301.750, up $2.925,
Sep 25 Feeder Cattle closed at $300.900, up $3.200,
Oct 25 Feeder Cattle closed at $299.075, up $3.375,
