Live cattle futures are mixed at midday, with contracts down 60 cents to 67 cents higher. Limits are expanded to $12.75 for today following the limit gains in feeders for Thursday. Cash trade has crept up to $258 this week following the $256-257 earlier in the week. The Thursday Fed Cattle Exchange showed $258 sales on 194 of the 388 head offered. Feeder cattle futures are falling back into the weekend, with contracts down $1.70 to $2.20 in the front months. Limits are expanded to $16 for today. The CME Feeder Cattle Index was down another $4.93 on June 1 to $359.21.
The Thursday APHIS update on the New World Screwworm showed a total of 2,077 active cases of in Mexico as of Wednesday. There were 155 active cases in the bordering state of Tamaulipas (10 within a range of 79-98 miles of the US border), 83 active in Nuevo Leon (28 within a range of 50-98 miles of the US border), and 35 in Coahuila (22 within 25-97 miles of the US border). Outside of the case in Southern Texas reported this week, no other active cases have been reported.
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Wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel spread at $6.31. Choice boxes were up 51 cents to $393.17, while Select was $3.82 lower at $386.86. USDA estimated federally inspected cattle slaughter for Thursday at 108,000 head, with the weekly total at 428,000 head. That was down 49,665 head from the same week last year.
Jun 26 Live Cattle are at $249.850, up $0.675,
Aug 26 Live Cattle are at $240.925, down $0.600,
Oct 26 Live Cattle are at $233.825, up $0.025,
Aug 26 Feeder Cattle are at $351.675, down $1.700
Sep 26 Feeder Cattle are at $348.175, down $1.900
Oct 26 Feeder Cattle are at $344.450, down $2.200
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.
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