Live cattle futures closed out the Tuesday session mixed, as nearbys contracts were anywhere from 22 cents higher to 7 cents lower. Preliminary open interest was up 2,409 contracts on Tuesday, though June was down 2,009. Cash trade has yet to see a broad test this week, with some light $219 KS sales reported on Monday. Feeder cattle futures were steady to 35 cents higher in the front months, and weaker in the fall contracts. The CME Feeder Cattle Index was down another $1.53 on May 19 with an average price at $297.33. 

USDA’s Tuesday afternoon National Wholesale Boxed Beef report was higher, with the Chc/Sel spread widening back out to $13.79. Choice boxes were up $3.94 at $358.75, while Select was quoted 85 higher at $344.96 per hundred pounds. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 120,000 head, taking the weekly total to 235,000 head. That is up 15,000 head from the week prior but down 807 head from the same week last year.

Jun 25 Live Cattle  closed at $213.175, up $0.200,

Aug 25 Live Cattle  closed at $207.850, down $0.075,

Oct 25 Live Cattle  closed at $205.300, up $0.225,

May 25 Feeder Cattle  closed at $296.000, up $0.325,

Aug 25 Feeder Cattle  closed at $297.500, up $0.025,

Sep 25 Feeder Cattle  closed at $296.200, down $0.125,