Live cattle futures were in rally mode on Tuesday, closing with contracts up $3.60 to $5.95 higher. New buying interest was noted, up 4,735 contracts. Cash trade was mostly $255-258 across the country last week. It has yet to take place so far this week. Feeder cattle futures rallied $5.32 to $6.87 across most contracts on Tuesday. Open interest was up 283 contracts. The CME Feeder Cattle Index was back up $1.33 on June 12 to $364.00.
USDA will release Cattle on Feed data on Thursday, as traders are looking for May placements to be down 5.5% from a year ago. Marketings are seen down 10.6% compared to 2025. June 1 on feed is expected to total 2.5% larger than the same period last year.
