Cattle Pull Off Monday Lows to Close Mixed

Live cattle are down anywhere from a tick to $1.02 at midday to start June trade. Cash cattle markets saw the North reported at $190 last week, down $2 on the week. The South traded hands at $186, a $1 pullback. Feeders are slipping $1.25 to $2 lower on Monday. The CME Feeder Cattle Index was back up $2.43 on May 31 to $250.77.

Crop Progress data showed a 3% improvement in the US ratings at 51% gd/ex. The Brugler500 index was up 9 points to 335, with a weighted average of beef cow states at 353, up 9 points.

USDA’s Wholesale Boxed Beef prices were higher in the Monday morning report. Choice boxes were up $2.40 at $315.60, with Select $1.99 higher to $303.70. The Chc/Sel spread was at $11.90. USDA estimated last week’s FI cattle slaughter at 120,000 for Monday. That is well above last week due to the holiday but down 128 head from the same Monday last year. 

Jun 24 Live Cattle  closed at $182.025, up $0.475,

Aug 24 Live Cattle  closed at $178.875, up $0.425,

Oct 24 Live Cattle  closed at $180.900, up $0.100,

Aug 24 Feeder Cattle  closed at $256.200, down $0.200,

Sep 24 Feeder Cattle  closed at $257.875, down $0.250,

Oct 24 Feeder Cattle  closed at $258.850, down $0.125,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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