Live cattle futures experienced gains of 45 to 95 cents on Monday, with cash trade rising to $258-260 across the U.S. Feeder cattle futures also saw increases, ranging from $2.75 to $3.75, following early session fluctuations. The CME Feeder Cattle Index rose by $1.62 to $368.68.
Recent USDA data revealed a 9.7% decline in May cattle placements year-over-year, surpassing estimates of a 5.5% drop, while marketings decreased by 11.77% to 1.551 million head. The June 1 on-feed inventory stood at 11.682 million head, up 2.09% from the previous year. Additionally, wholesale boxed beef prices increased, with Choice boxes up $1.24 to $395.61, and Select boxes up $1.86 to $373.94.
Concurrently, new world screwworm cases in Texas rose to a total of 15, with 12 currently active cases—two in cattle in Edwards County and one in sheep in Crockett County.
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