Live cattle futures are holding higher on Monday, with contracts 65 to 90 cents higher. Cash action from last week showed Southern sales of $218-220, steady, and $229 in the north. Feeder cattle futures are mixed at midday, with nearby May down 22 cents and other contracts 10 to 22 cents higher. The CME Feeder Cattle Index was down $1.38 on May 15 with the average price at $300.79. The weekly OKC feeder cattle auction has an estimated 9,400 head for sale, with a lower undertone noted early.

Friday afternoon’s weekly CFTC report showed spec funds adding a total of 2,257 contracts to their net long position in live cattle futures and options. As of May 13th, their net long was at 135,594 contracts. In feeder cattle futures, managed money added 2,773 contracts to their net long position, nearing their previous record to 32,215 contracts.

USDA’s National Wholesale Boxed Beef report from Monday morning was higher, with the Chc/Sel spread tightening to $9.33. Choice boxes were up $1.40 at $353.89, while Select was quoted $2.17 higher at $344.56 per hundred pounds. USDA’s Federally inspected cattle slaughter last week was estimated at 566,000 head. That is up 7,000 head from the week prior but down 30,918 head from the same week last year.

Jun 25 Live Cattle  are at $212.875, up $0.650,

Aug 25 Live Cattle  are at $207.650, up $0.900,

Oct 25 Live Cattle  are at $204.850, up $0.875,

May 25 Feeder Cattle  are at $296.625, down $0.225

Aug 25 Feeder Cattle  are at $297.700, up $0.100

Sep 25 Feeder Cattle  are at $296.500, up $0.225