Cattle Rebound on Monday

Live cattle futures saw gains of 75 cents to $2.05 across the board on Monday. Cash trade felt softer last week to $255-258 across the country. Feeder cattle futures were $3.12 to $3.625 higher on the Monday session. The CME Feeder Cattle Index was back down $6.26 on May 29 to $367.14. Late Friday a new world screwworm case in Mexico was reported within 25 miles of the US border. The weekly OKC auction has an estimated 5,500 head for sale, with feeders noted $5-15 lower, as calves were down $10-20.

The weekly NASS Crop Progress report showed the US pasture rating at 30% gd/ex, up 1% from the week prior. The Brugler500 index was up 5 points to 272.

Wholesale Boxed Beef prices were mixed in the Monday PM report, with the Chc/Sel spread at $9.74. Choice boxes were up $1.36 cents to $392.83, while Select was 9 cents lower at $383.09. USDA estimated federally inspected cattle slaughter for Monday at 104,000 head, which was down 10,635 head from the same Monday last year. 

Jun 26 Live Cattle  closed at $249.000, up $0.750,

Aug 26 Live Cattle  closed at $240.600, up $1.550,

Oct 26 Live Cattle  closed at $232.325, up $1.900,

Aug 26 Feeder Cattle  closed at $351.550, up $3.125,

Sep 26 Feeder Cattle  closed at $348.675, up $3.325,

Oct 26 Feeder Cattle  closed at $345.300, up $3.275,

On the date of publication, Austin Schroeder 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.