Live cattle futures closed Monday with contracts up 50 cents in front month June, but other contracts 55 cents lower to down $1.92. Cash trade settled in at $256-260 last week, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures were down $1.92 to $4.80 in the front months, with May the exception, up $1.025. The CME Feeder Cattle Index was back down $2.54 to $374.83 on May 7. The weekly OKC feeder cattle auction had 5,237 head for sale, with prices down $5-10 on feeder steers and steady to $5 lower on feeder heifers.
Just before midday, a Wall Street Journal report indicated the US was looking to temporarily lower beef import tariffs as soon as Monday.
