Live cattle futures are showing losses of $1.00 to $1.70 at midday. There were no deliveries issued against June futures on Thursday. Open interest was up 2,405 contracts. Cash trade has been quiet this week with a few bids this morning reported at $254. The Friday morning Fed Cattle Exchange online auction showed no sales on the 952 head, with no bids. Feeder cattle futures are trading with $1.30 to $1.50 losses on Friday’s midday. The CME Feeder Cattle Index was back up $2.04 on June 10 to $370.10.
JBS announced a planned closure of its Souderton, PA slaughter plant this morning. The plant has a kil capacity of nearly 2,000 head/day.
Wholesale Boxed Beef prices were lower in the Friday AM report, with the Chc/Sel spread at $19.13. Choice boxes were down 10 cents to $393.11, while Select was 73 cents higher at $373.98. USDA’s federally inspected cattle slaughter on Thursday was estimated at 105,000 head, with the weekly total at 421,000 head. That is down 7,000 from the previous week and 36,768 head below the same week last year.
Jun 26 Live Cattle are at $250.450, down $1.025,
Aug 26 Live Cattle are at $240.975, down $1.700,
Oct 26 Live Cattle are at $233.925, down $1.475,
Aug 26 Feeder Cattle are at $358.175, down $1.475
Sep 26 Feeder Cattle are at $355.025, down $1.500
Oct 26 Feeder Cattle are at $351.500, down $1.300
