Live cattle futures are down 17 to 30 cents at midday, with June up a tick. Cash trade started has been reported at $230-231 live in the north and dressed at $360-370. A few sales were picked up in KS at $224-229. Feeder cattle futures are trading with 30 to 60 cents gains. The CME Feeder Cattle Index was back up 31 cents on May 21 with an average price at $295.69. The market will be closed on Monday for Memorial Day, as well as the government reports delayed, with a normal 8:30 am CDT open on Tuesday.

Ahead of the monthly Cattle on Feed report this Friday afternoon, traders are looking for April placements to be down 3.2% from last year, with marketings down 2.3%. On feed for May 1 is pegged down 1.5%. 

USDA’s National Wholesale Boxed Beef price continued higher in the Frida AM report, with the Chc/Sel spread at $10.74. Choice boxes were up 82 cents at $361.79, while Select was quoted $2.10 higher at $351.05 per hundred pounds. USDA’s Federally inspected cattle slaughter for Thursday was estimated at 116,000 head, taking the weekly total to 471,000 head. That is up 12,000 head from the week prior but down 8,832 head from the same week last year.

Jun 25 Live Cattle  are at $215.650, up $0.025,

Aug 25 Live Cattle  are at $210.325, down $0.175,

Oct 25 Live Cattle  are at $207.925, down $0.300,

Aug 25 Feeder Cattle  are at $300.100, up $0.325

Sep 25 Feeder Cattle  are at $299.100, up $0.475

Oct 25 Feeder Cattle  are at $297.000, up $0.550