Live cattle are down anywhere from a tick to $1.02 at midday to start June trade. Cash cattle markets saw the North reported at $190 last week, down $2 on the week. The South traded hands at $186, a $1 pullback. Feeders are slipping $1.25 to $2 lower on Monday. The CME Feeder Cattle Index was down $1.04 on May 30 to $248.24.
USDA’s Wholesale Boxed Beef prices back higher in the Monday morning report. Choice boxes were up $1.35 at $314.55, with Select $2.24 higher to $303.95. The Chc/Sel spread has narrowed to $10.60. USDA estimated last week’s FI cattle slaughter at 540,000 through Saturday. That is well below last week due to the holiday and down 28,423 head from the same week last year.
