Live cattle futures are trading with $1.70 to $2.35 gains at midday.  Cash trade started was reported at $230-231 live in the north and dressed at $360-370. A few sales were picked up in KS at $224-229. Feeder cattle futures are up a strong $3.17 to $3.30 in the nearbys, excluding the expiring May contract. The CME Feeder Cattle Index was back up 31 cents on May 20 with an average price at $297.64. 

Export Sales data showed a total of 12,276 MT of beef sold in the week of May 15. That was back down from the week prior. Japan was the top buyer of 3,600 MT, with 2,800 MT sold to South Korea. Shipments were tallied at 14,828 MT, which was back up from the previous week.  Of that total, 5,400 MT was headed to South Korea, with 4,100 MT to Japan.

USDA’s National Wholesale Boxed Beef report was higher on Thursday morning, with the Chc/Sel spread at $11.58. Choice boxes were up 71 cents at $360.30, while Select was quoted 44 cents higher at $348.72 per hundred pounds. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 120,000 head, taking the weekly total to 255,000 head. That is up 16,000 head from the week prior but down 3,530 head from the same week last year.

Jun 25 Live Cattle  are at $215.850, up $1.700,

Aug 25 Live Cattle  are at $210.675, up $2.025,

Oct 25 Live Cattle  are at $208.425, up $2.350,

May 25 Feeder Cattle  are at $295.400, down $0.900

Aug 25 Feeder Cattle  are at $299.725, up $3.300

Sep 25 Feeder Cattle  are at $298.225, up $3.175