Live cattle futures are trading with triple digit gains at midday, as contracts are up $1.10 to $1.57. Last week saw cash sales roll in at $189-191 in the South, as the North exchanged hands at $197-198.  Cash trade has been slow to develop this week. Wednesday morning’s Fed Cattle Exchange online auction from Central Stockyards showed sales of $193 in TX using the BidTheGrid™ method. Live bids were at $188 in TX. Last week saw sales roll in at $189-191 in the South, as the North exchanged hands at $197-198. Feeder cattle futures are $1.65 to $2.02 higher at midday. The CME Feeder Cattle Index was back down 44 cents on June 24 at $257.90.

USDA’s Cold Storage report on Tuesday afternoon indicated 423.68 million lbs of beef stocks at the end of May. That was down just 0.46% from the same month last year and 3.39% lower than April 30 after an 8 million lb revision higher. 

USDA wholesale Boxed Beef prices were lower in the Wednesday AM report. Choice boxes were down 44 cents to $323.95/cwt, with Select 94 cents lower at $304.32. The Chc/Select spread widened to $18.63. USDA estimated Tuesday’s FI slaughter at 121,000 head, with this week’s total at 236,000 head. That is down 3,000 head from the previous week and 16,988 head below the same week last year.

Jun 24 Live Cattle  are at $191.050, up $1.575,

Aug 24 Live Cattle  are at $185.850, up $1.425,

Oct 24 Live Cattle  are at $185.725, up $1.375,

Aug 24 Feeder Cattle  are at $261.075, up $2.025

Sep 24 Feeder Cattle  are at $261.975, up $1.900

Oct 24 Feeder Cattle  are at $262.475, up $1.875