Live cattle is mixed on Tuesday, with June up 15 cent and being held up by cash. Other contracts are down 10 to 42 cents. Monday was FND (first notice day) for June cattle deliveries.  There were none, with the oldest long in line dated August 2023. Cash trade activity mostly consisted of collecting show lists, with last week at $185 in the South and $190 in the North.

Feeder cattle futures are slipping back lower, with losses of 70 to 95 cents at midday. The CME Feeder Cattle Index was up $1.68 at $252.88.   The OKC auction had 6500 head of feeders on Monday, down from 7,170 last week and 10,143 a year ago. Heavy weights were $1-6 higher, while feeder steers under 850# were reported $2-7 lower. Demand was moderate to good, but uneven (steer calves up, but heifer calves down). 

USDA’s Wholesale Boxed Beef prices were higher in this morning’s report. Choice boxes were up an average $1.79 at $319.21 per cwt. Select product was 46 cents higher at $301.50. The Chc/Select spread has widened out to $17.71.  USDA estimated daily FI slaughter for Monday was 121,000 head vs. 120,000 last Monday and 122,718 a year ago. 

Jun 24 Live Cattle  are at $184.075, up $0.150,

Aug 24 Live Cattle  are at $179.550, down $0.425,

Oct 24 Live Cattle  are at $182.075, down $0.100,

Aug 24 Feeder Cattle  are at $257.725, down $0.925

Sep 24 Feeder Cattle  are at $258.850, down $0.875

Oct 24 Feeder Cattle  are at $259.350, down $0.850