Live Cattle Futures Rise Amid Mixed Market Reports

Live cattle futures increased by $1.60 to $2.075 on Thursday. Cash trade recorded sales at $221-223 in the South, while prices in the North reached $234-235. At the Fed Cattle Exchange online auction, sales ranged from $222 to $225.50 from the 1,546 head offered, with 773 sold. Feeder cattle futures also rebounded, climbing $4.25 to $4.40. The CME Feeder Cattle Index saw a gain of $1.91 on May 28, averaging $297.75.

In legal news, an appeals court granted a temporary stay on a federal trade court ruling that found President Trump’s tariffs on liberation day illegal.

The USDA’s National Wholesale Boxed Beef report indicated an afternoon increase, with the Chc/Sel spread at $12.45. Choice boxes rose by 67 cents to $366.09, while Select boxes increased by $1.90 to $353.64 per cwt. Thursday’s federally inspected cattle slaughter was 120,000 head, bringing the weekly total to 355,000 head, a decrease of 18,778 head compared to the same holiday week last year.

Jun 25 Live Cattle closed at $215.525, up $1.600.

Aug 25 Live Cattle ended at $210.075, up $1.900.

Oct 25 Live Cattle finished at $208.150, up $2.075.

Aug 25 Feeder Cattle closed at $299.925, up $4.300.

Sep 25 Feeder Cattle ended at $298.850, up $4.375.

Oct 25 Feeder Cattle closed at $296.775, up $4.250.

On the date of publication, Austin Schroeder did not hold any positions in the mentioned securities. The information in this article is for informational purposes only. For details, view the Barchart Disclosure Policy.

The views expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.