Live cattle futures showed mixed performance at midday Friday, with contracts fluctuating between down 60 cents and up 67 cents. Trading limits were expanded to $12.75 following gains in feeder cattle contracts on Thursday. Cash beef prices climbed to $258 this week, up from the $256-257 range earlier in the week. Thursday’s Fed Cattle Exchange recorded $258 sales on 194 of the 388 head offered.
Feeder cattle futures declined into the weekend, with front-month contracts down $1.70 to $2.20. Limits were expanded to $16 for the trading session. The CME Feeder Cattle Index fell another $4.93 on June 1, reaching $359.21.
Wholesale boxed beef prices strengthened in the Friday morning report, with the Choice/Select spread widening to $6.31. Choice grade boxes rose 51 cents to $389.17, while Select boxes slipped $3.82 to $386.86. USDA reported Thursday’s federally inspected cattle slaughter at 108,000 head, bringing the weekly total to 428,000 head—a decline of 49,665 head compared to the same week last year.
Regarding animal health concerns, the Thursday APHIS update on New World Screwworm indicated 2,077 active cases in Mexico as of Wednesday. Bordering Tamaulipas state reported 155 active cases (10 within 79-98 miles of the U.S. border), Nuevo León had 83 active cases (28 within 50-98 miles of the border), and Coahuila recorded 35 cases (22 within 25-97 miles of the border). Outside of the case in Southern Texas reported this week, no other active cases have been identified.
Specific futures prices:
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
