Live cattle futures posted gains of anywhere from a tick to 50 cents higher in the front months. Cash action is off to an earlier start this week, with light $218-220 sales reported in the South already, steady to $2 higher than last week. Feeder cattle futures faced weakness for much of the session, though buying came in late to close with contracts up 30 to 35 cents and May still down 37 cents. The CME Feeder Cattle Index was back up 38 cents on May 5, with the average price at $293.78. 

Census data converted to a carcass basis showed beef exports during March totaling 255.76 million lbs, which was slightly below last year, but a 3-month high. 

USDA’s National Wholesale Boxed Beef prices were stronger again on Tuesday afternoon, with the Chc/Sel spread narrowing to $11.70. Choice boxes were up $1.10 at $344.67, while Select was quoted $4.90higher at $332.97 per hundred pounds. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 121,000 head, with the week to date total at 230,000 head. That is 6,000 head above the week prior but down 11,056 head from the same week last year.

Jun 25 Live Cattle  closed at $213.675, up $0.025,

Aug 25 Live Cattle  closed at $209.375, up $0.300,

Oct 25 Live Cattle  closed at $206.875, up $0.475,

May 25 Feeder Cattle  closed at $295.700, down $0.375,

Aug 25 Feeder Cattle  closed at $299.200, up $0.300,

Sep 25 Feeder Cattle  closed at $297.875, up $0.325,