Live cattle futures are down $1 to $1.65 at midday. Cash action is off to an earlier start this week, with light $218-220 sales reported in the South already, steady to $2 higher than last week. The weekly Central Stockyards Fed Cattle Exchange online auction showed a total of 675 head sold of the 1,350 offered in a range of $219-221. Feeder cattle futures are trading with $1.40 to $1.90 losses at midday. The CME Feeder Cattle Index was back up 38 cents on May 5, with the average price at $293.78. 

USDA’s National Wholesale Boxed Beef prices were higher again on Wednesday morning, with the Chc/Sel spread narrowing to $12.19. Choice boxes were up $1.43 at $346.10, while Select was quoted 94 cents higher at $333.91 per hundred pounds. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 121,000 head, with the week to date total at 230,000 head. That is 6,000 head above the week prior but down 11,056 head from the same week last year.

Jun 25 Live Cattle  are at $212.050, down $1.625,

Aug 25 Live Cattle  are at $207.875, down $1.500,

Oct 25 Live Cattle  are at $205.825, down $1.050,

May 25 Feeder Cattle  are at $293.825, down $1.875

Aug 25 Feeder Cattle  are at $297.675, down $1.525

Sep 25 Feeder Cattle  are at $296.400, down $1.475