Cattle Mixed on Friday
Live cattle futures are mixed on Friday, with June up 50 cents and other front months slipping lower. Cash trade showed sales at $221-223 in the South on this wee, with business at $234-235 in the North. Feeder cattle futures are trading with Friday losses of 30 to 40 cents at midday. The CME Feeder Cattle Index was back up $1.91 on May 28 with an average price of $297.75.
USDA Export Sales data showed 14,695 MT of beef sold in the week of May 22, a 6-week high. Export Shipments were back down to 12,644 MT.
USDA’s National Wholesale Boxed Beef report was mixed on Friday morning, with the Chc/Sel spread at $9.11. Choice boxes were down 10 cents at $365.99, while Select was quoted $3.24 higher at $356.88/cwt. USDA’s Federally inspected cattle slaughter for Thursday was 120,000 head, with the weekly total at 355,000 head. That is down 18,778 head from the same holiday week last year.
Jun 25 Live Cattle are at $216.025, up $0.500,
Aug 25 Live Cattle are at $209.950, down $0.125,
Oct 25 Live Cattle are at $207.975, down $0.175,
Aug 25 Feeder Cattle are at $299.625, down $0.300
Sep 25 Feeder Cattle are at $298.500, down $0.350
Oct 25 Feeder Cattle are at $296.400, down $0.375
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.