Live cattle ended the day with Juny down 12 cents and other contracts spreading higher, up 27 to 67 cents. June was down a total of $1.90 on the week. Cash trade has been slow to develop this week with sales of $184 in the South and a few trades in the North in a range of $186-188. Feeders were mixed on Friday, with the front months 20 to 47 cents lower and other contracts up 5 to 17 cents. May ended the week with losses of $5.40. The CME Feeder Cattle index was down $3.69 on May 1 to $243.37.

CFTC data reported spec traders trimming back 2,034 contracts from their net long in cattle futures and options. They took that to 33,620 contracts as of April 30.

USDA’s Wholesale Boxed Beef prices were mixed in the Friday afternoon report. Choice boxes were up $1.30 at $294.20, with Select slipping 33 cents to $287.65. That raised the Chc/Sel spread to $6.55. USDA estimated Friday’s federally inspected cattle slaughter at 119,000 head, taking the weekly total to 619,000 head through Saturday. That is 6,000 head above last week and down 1,888 head from the same week last year.

Jun 24 Live Cattle  closed at $176.675, down $0.125,

Aug 24 Live Cattle  closed at $174.575, up $0.625,

Oct 24 Live Cattle  closed at $178.050, up $0.675,

May 24 Feeder Cattle  closed at $243.300, down $0.300,

Aug 24 Feeder Cattle  closed at $254.750, down $0.475,

Sep 24 Feeder Cattle  closed at $255.775, down $0.200,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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