Live cattle futures experienced losses ranging from $1.70 to $2.80 across most front months, with open interest declining by 2,268 contracts as long positions were exited. Cash trade remained quiet, with bids reported at $260, down from last week’s range of $256-260. Feeder cattle futures also closed down, with decreases between $2.50 and $7.30.
In terms of market activity, the USDA estimated federally inspected cattle slaughter for Tuesday at 108,000 head, bringing the weekly total to 210,000—an increase of 5,000 from the previous week but 8,947 less than the same period last year. The CME Feeder Cattle Index fell by $1.48 to $374.37 on May 11.
Additionally, the latest APHIS update reported 1,701 active cases of the New World Screwworm in Mexico as of Monday, with 139 cases in Tamaulipas and 51 in Nuevo Leon, both within proximity to the U.S. border.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
