Live cattle futures posted gains of $1.925 to $3.10 on Monday, taking back some of Friday’s weakness. Cash trade has yet to get kicked off this week. It was reported at $235 in TX and $233-238 KS last week, with northern trade at $380 dressed and $240-242 live trade in NE. Feeder cattle futures are in bunce back modes, with contracts up $3.95 to $4.05. The CME Feeder Cattle Index was down $3.21 on June 13 with an average price of $313.89. Monday’s OKC feeder cattle auction has an estimated 5,200 head listed, with action for feeders noted as steady and $2-5 lower for calves.
USDA’s National Wholesale Boxed Beef prices were higher on Monday afternoon, with the Chc/Sel spread at $14.64. Choice boxes were up another $4.23 to $382.11, while Select was quoted $3.97 higher at $367.47/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 103,000 head. That is 9,000 head below the week prior and 12,735 head below the same week last year.
Jun 25 Live Cattle closed at $227.025, up $1.925,
Aug 25 Live Cattle closed at $215.550, up $3.100,
Oct 25 Live Cattle closed at $212.900, up $2.975,
Aug 25 Feeder Cattle closed at $310.225, up $3.800,
Sep 25 Feeder Cattle closed at $309.575, up $3.975,
Oct 25 Feeder Cattle closed at $307.375, up $4.025,
