Cattle Close Mixed on Monday
Alan Brugler, Barchart
May 9, 2022
Live cattle futures ended the first trade day of the week with 2 cent gains in August and 80 cent gains in June. The back months stayed red at the close with 25 to 45 cent losses to start the week. Despite this, the October contract was still a $9.07 premium to spot June. Feeders were down 47 to 72 cents on the board on Monday. USDA noted some light catch up trade in NE for Friday, but maintained the bulk prices for the week as $138 - $140 for the South and $146 in the WCB. The CME Feeder Cattle Index was firm at $155.51 for 5/5.
Wholesale Boxed Beef prices were mixed on Monday, with Choice up $3.85 and Select down by $1.93. USDA estimated the federally inspected cattle slaughter as 121k head for Monday. That was 10k more wk/wk and was 18k head above the same Monday last year.
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