Live cattle futures are slipping back by a nickel to $1 so far at Friday’s midday. Cash trade this week has come in at the $218-220 range in the South, with northern action at $225-228. Feeder cattle futures are fading back below the $300 level in some contracts, with midday losses of 20 cents to $2.  The CME Feeder Cattle Index was back up $2.37 on May 7, with the average price at $295.78. 

USDA’s National Wholesale Boxed Beef prices were lower on Friday morning, with the Chc/Sel spread at $14.01. Choice boxes were down $1.36 at $346.53, while Select was quoted 68 cents lower at $332.52 per hundred pounds. USDA’s Federally inspected cattle slaughter for Thursday was estimated at 120,000 head, with the week to date total at 469,000 head. That is 4,000 head above the week prior but down 14,248 head from the same week last year.

Jun 25 Live Cattle  are at $214.200, down $0.050,

Aug 25 Live Cattle  are at $209.025, down $0.975,

Oct 25 Live Cattle  are at $206.600, down $0.875,

May 25 Feeder Cattle  are at $297.275, down $0.200

Aug 25 Feeder Cattle  are at $299.700, down $1.550

Sep 25 Feeder Cattle  are at $298.475, down $1.750