Live cattle futures are showing losses of $1.00 to $1.70 at midday. There were no deliveries issued against June futures on Thursday. Open interest was up 2,405 contracts. Cash trade has been quiet this week with a few bids this morning reported at $254. The Friday morning Fed Cattle Exchange online auction showed no sales on the 952 head, with no bids. Feeder cattle futures are trading with $1.30 to $1.50 losses on Friday’s midday. The CME Feeder Cattle Index was back up $2.04 on June 10 to $370.10.
JBS announced a planned closure of its Souderton, PA slaughter plant this morning. The plant has a kil capacity of nearly 2,000 head/day.
-copy-29e15046.jpeg?w=600)
