Live cattle futures continued the rally into the fresh week, with contracts up $1.90 to $2.55 at the close as follow-through buying on a stronger cash market propped up the market. Cash trade settled in last week with a $5-6 higher trend across the country. Southern trade was observed at $218, with business up to $222-224 in the North. 

Feeder cattle futures posted $1 to $2 gains across most contracts on Monday. The CME Feeder Cattle Index was down 2.98 on May 2, with the average price at $293.40. The weekly OKC feeder cattle auction has an estimated 4,200 head for sale on Monday, with sales listed $2-7 higher for heavier steers and up $5-10 for lighter feeders under 850 lbs. Heifers were steady to $5 higher.

USDA’s National Wholesale Boxed Beef prices were stronger on Monday, with the Chc/Sel spread at $15.50. Choice boxes were up 67 cents at $343.57, while Select was quoted $2.72 higher at $328.07 per hundred pounds. USDA’s Federally inspected cattle slaughter for Monday was estimated at 109,000 head. That is 5,000 head above the week prior but down 8,796 head from the same week last year.

Jun 25 Live Cattle  closed at $213.650, up $2.550,

Aug 25 Live Cattle  closed at $209.075, up $2.300,

Oct 25 Live Cattle  closed at $206.400, up $1.925,

May 25 Feeder Cattle  closed at $296.075, up $1.125,

Aug 25 Feeder Cattle  closed at $298.900, up $2.000,

Sep 25 Feeder Cattle  closed at $297.550, up $2.000,