Live cattle futures are slipping lower across most contracts on Tuesday, with losses of 80 cents to $1.35. Last week’s cash trade was reported at $230-231 live in the north and dressed at $360-370. Southern trade was light, from 220 to $222. Feeder cattle futures are posting losses of $2.30 to $2.60 across most contracts at midday. The CME Feeder Cattle Index was down 23 cents on May 22 with an average price of $295.46. 

The monthly Cattle on Feed report showed April placements down 2.6% from last year at 1.613 million head, with marketings down 2.5% to 1.825 million head. The May 1 on feed inventory was at 11.376 million head, down 1.54%. 

April 30 beef stocks were tallied at 418.15 million lbs according to NASS. That was the tightest since 2014, down 1.93% from last year and a 1.65% decline from March.

USDA’s National Wholesale Boxed Beef report was mixed on Tuesday morning, with the Chc/Sel spread at $8.72. Choice boxes were down $1.36 at $360.19, while Select was quoted 15 cents higher at $351.47 per hundred pounds. USDA’s Federally inspected cattle slaughter for last week was estimated at 570,000 head. That is up 4,000 head from the week prior but down 32,136 head from the same week last year.

Jun 25 Live Cattle  are at $214.975, down $0.825,

Aug 25 Live Cattle  are at $209.100, down $1.350,

Oct 25 Live Cattle  are at $206.950, down $1.150,

Aug 25 Feeder Cattle  are at $297.800, down $2.575

Sep 25 Feeder Cattle  are at $296.850, down $2.500

Oct 25 Feeder Cattle  are at $295.025, down $2.325