CattleFutures Slip Midday as USDA Reports Mixed Placements and Slaughter Figures

Live cattle futures slipped $1.22 to $2.15 by midday, with cash trades last week ranging $260‑$265 and late sales easing to $258‑$260. Feeder cattle futures fell $2‑$2.35, shedding earlier gains. The CME Feeder Cattle Index dropped $2.52 to $368.20 on May 21. CFTC data showed managed money trimming 773 contracts from its net long in live‑cattle futures and options, reducing it to 130,113 contracts. In feeder cattle futures and options, speculators added 1,194 contracts to their net long, bringing it to 16,380 contracts.

USDA’s Cattle on Feed report showed April placements at 1.702 million head, 5.52 % above last year and exceeding the 3.4 % estimate. Marketings slipped 10.03 % to 1.642 million head. On‑feed inventory as of May 1 totaled 11.584 million head, up 1.83 % year‑over‑year versus an expected 1.6 % increase.

April 30 beef stocks were recorded at 408.34 million lbs, a modest 0.34 % rise from the end of March but 2.6 % below the previous year.

Wholesale boxed beef prices eased, with the choice‑select spread at $3.03. Choice boxes rose $1.98 to $392.25, while select increased $4.22 to $389.22. USDA estimated federally inspected cattle slaughter at 528,000 head for the week, down 7,000 from the prior week and 48,278 below the same week last year.

Jun 26 Live Cattle  are at $247.150, down $2.150,

Aug 26 Live Cattle  are at $237.825, down $1.775,

Oct 26 Live Cattle  are at $229.500, down $1.225,

Aug 26 Feeder Cattle  are at $347.825, down $2.025,

Sep 26 Feeder Cattle  are at $344.675, down $2.225,

Oct 26 Feeder Cattle  are at $341.275, down $2.350,

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