Live cattle futures are up 65 cents to $1.80 at midday. Cash trade picked up last week to $255-258 across the country. Feeder cattle futures are $3.30 to $3.50 in the front months at midday. The CME Feeder Cattle Index was back up $3.77 on May 28 to $373.40. Late Friday a new world screwworm case in Mexico was reported within 31 miles of the US border. The weekly OKC auction has an estimated 5,500 head for sale, with a lower undertone noted.
Commitment of Traders data from CFTC on Friday showed live cattle spec traders at a net long of 120,569 contracts of futures and options as of Tuesday, trimming 9,544 contracts over the course of the week. Managed money in feeder cattle were busy exiting longs, dropping the net long by 5,785 contracts to the smallest net long since the fall of 2024 at 10,595 contracts.
Wholesale Boxed Beef prices were lower in the Monday AM report, with the Chc/Sel spread at $10.26. Choice boxes were up $2.63 cents to $394.10, while Select was $66 cents higher at $383.84. USDA estimated federally inspected cattle slaughter for last week at 448,000 head, which was down 39,605 head from the same post-Memorial Day week last year.
Jun 26 Live Cattle are at $248.900, up $0.650,
Aug 26 Live Cattle are at $240.475, up $1.425,
Oct 26 Live Cattle are at $232.225, up $1.800,
Aug 26 Feeder Cattle are at $351.750, up $3.325
Sep 26 Feeder Cattle are at $348.775, up $3.425
Oct 26 Feeder Cattle are at $345.450, up $3.425
