Live cattle futures posted $1.20 to $2.05 higher trade across the board on Friday, with June holding up $5 on the week as the cash market was a driver. Open interest was up 3,445 contracts on Friday. Cash trade was mostly $260-265 in the South last week, with northern trade at $408-415 dressed and up to $265 live. Feeder cattle futures were up $1.10 to $4.70 to close out the Friday session. August was $2.77 lower last week. The CME Feeder Cattle Index was down $3.14 to $370.09 on May 14.
China has renewed expired export licenses for more than 400 US beef plants after letting them lapse. On Sunday, the White House released a fact sheet on the US/China talks from last week, in part stating that “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.”
CFTC data showed managed money slashing 11,079 contracts from their net long in live cattle futures and options as of Tuesday, mainly via long liquidation, taking it to 130,886 contracts. In feeder cattle futures and options, specs were adding shorts and cutting longs, cutting 3,539 contracts from their net long to 15,186 contracts.
Wholesale Boxed Beef prices were stronger in the Friday afternoon report, with the Chc/Sel spread at 0. Choice boxes were up $1.80 to $389.25, while Select was 25 cents higher at $386.25 USDA estimated federally inspected cattle slaughter for last week at 53500 head. That was up 8,000 head from last week but 31,109 head below the last week last year.
Jun 26 Live Cattle closed at $253.900, up $1.825,
Aug 26 Live Cattle closed at $247.925, up $1.775,
Oct 26 Live Cattle closed at $239.875, up $1.800,
May 26 Feeder Cattle closed at $368.675, up $1.100,
Aug 26 Feeder Cattle closed at $361.450, up $3.450,
Sep 26 Feeder Cattle closed at $359.175, up $3.950,
