Live cattle futures dropped between $1.50 to $2.40 on Friday, with June futures down $1.05 for the week, while feeder cattle futures fell $4.60 to $5.02 in most contracts. Cash trade was reported at $255-258 nationally. The CME Feeder Cattle Index rose to $373.40 as of May 28.
According to the Commitment of Traders data from the CFTC, live cattle spec traders held a net long of 120,569 contracts as of Tuesday, reducing by 9,544 contracts over the week. Feeder cattle managed money cut their net long position to 10,595 contracts, the smallest since fall 2024.
The weekly Export Sales report indicated 13,211 MT of beef sold in the week ending May 21, reaching a four-week high, with South Korea as the top buyer at 3,900 MT. USDA estimated cattle slaughter at 448,000 head for the week, down 39,605 from the same period last year.
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