Live cattle futures were mixed to round out the Monday session, with June being held up by the cash market, up 22 cents. The rest of the front months are down 2 to 37 cents. Cash trade was strong last week, with a few sales at $186 reported in KS by USDA and some up to $195. USDA also indicated $195-198 trade in NE, a record in the cash market. 

Feeder cattle futures were down 12 to 65 cents in the nearbys and other contracts up 5 to 42 cents at the close.  The CME Feeder Cattle Index was down 41 cents on June 14 at $255.72.  Monday’s USDA OKC feeder cattle auction showed 4,000 head sold, with prices $4-9 higher and a few up $15. 

USDA’s Crop Progress report showed a drop to the US pasture ratings, down 3% to 48% gd/ex, with the Brugler500 index, encompassing all 5 USDA categories, down 9 points to 323. A weighted average of major US beef cow states showed a 3 point drop to 345.

USDA reported wholesale Boxed Beef prices extending the strength Monday afternoon. Choice boxes were up 58 cents to $320.47/cwt with Select another $1.01 higher at $304.82. The Chc/Select spread narrowed to $15,65. USDA estimated FI slaughter for Monday at 119,000 head.  That is down 2,000 head from the previous week and 3,443 head below the same Monday last year.  

Jun 24 Live Cattle  closed at $187.050, up $0.225,

Aug 24 Live Cattle  closed at $182.800, down $0.375,

Oct 24 Live Cattle  closed at $184.625, down $0.225,

Aug 24 Feeder Cattle  closed at $261.325, down $0.650,

Sep 24 Feeder Cattle  closed at $262.575, down $0.125,

Oct 24 Feeder Cattle  closed at $263.300, up $0.200,