Live cattle futures experienced declines on Monday, with contracts down 52 cents to $1.15. Cash trade last week showed transactions at $260-265 in the South and $408-415 dressed in the North. Feeder cattle futures dropped by $1.40 to $3.15, while the CME Feeder Cattle Index decreased by $2.46 to $367.63 as of May 15. The USDA estimated that federally inspected cattle slaughter on Monday reached 106,000 head, an increase of 4,000 from the previous week but 8,055 lower than the same week last year.
The Monday Crop Progress report indicated that U.S. pasture ratings stood at 28% in the good/excellent category, down 3% from the prior week. In a notable development, China has renewed export licenses for over 400 U.S. beef plants and committed to purchasing at least $17 billion annually in U.S. agricultural products from 2026 to 2028, alongside existing soybean commitments.
In the wholesale boxed beef market, Choice boxes rose by $2.89 to $392.14, while Select boxes increased by 98 cents to $390.23, with a Chc/Sel spread recorded at $1.91.
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