Live cattle futures are trading 92 cents to $2.27 higher so far on Tuesday. Cash trade from last week finished out near $256-257. It has been quiet so far this week. Feeder cattle futures are $4 to $5 higher in bounce back Turnaround Tuesday action. The CME Feeder Cattle Index was up $1.51 to $375.54 on May 1. The weekly OKC feeder cattle auction saw 6,402 head sold, with feeders steady to $4 higher on the steers and heifers steady to $2 lower. Calves were up $5 to $10 head.
Census data converted to a carcass basis showed beef exports at 207.25 million pounds in March, a 10-year low for the month but 12.9% above February.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel at a $1.09 premium to Select. Choice boxes were up $1.86 to $393.42, while Select was $3.91 higher at $394.51. USDA estimated federally inspected cattle slaughter for Monday at 98,000 head. That is down 8,000 head from last week and 10,876 head below the same week last year.
Jun 26 Live Cattle are at $252.675, up $0.925,
Aug 26 Live Cattle are at $247.825, up $1.650,
Oct 26 Live Cattle are at $242.725, up $2.275,
May 26 Feeder Cattle are at $370.800, up $4.200
Aug 26 Feeder Cattle are at $371.400, up $4.800
Sep 26 Feeder Cattle are at $369.475, up $4.675
