Live cattle futures closed with mixed action as nearby June was held up by the stronger cash action, up 42 cents, with other contracts down 40 to 55 cents. June was up $3.57 on the week. Cash trade settled in this week $218-220 in the South, with northern action at $225-228. Feeder cattle futures were also mixed, with May up 50 cents and other contracts down 95 cents to $1.20. May was still $3.02 higher this week. The CME Feeder Cattle Index was up another $0.36 on May 8, with the average price at $296.14. 

Commitment of Traders data showed a total of 4,498 contracts added to the managed money net long position in the week ending on May 6, taking it to a total of 133,388 contracts. In feeder cattle, specs added back 1,541 contracts to their net long at 29,442 contracts.

USDA’s National Wholesale Boxed Beef prices were lower on Friday afternoon, with the Chc/Sel spread at $14.80. Choice boxes were down $1.92 at $345.97, while Select was quoted $2.03 lower at $331.17 per hundred pounds. USDA’s Federally inspected cattle slaughter for this week estimated at 559,000 head. That is even with the week prior, but down 56,769 head from the same week last year.

Jun 25 Live Cattle  closed at $214.675, up $0.425,

Aug 25 Live Cattle  closed at $209.575, down $0.425,

Oct 25 Live Cattle  closed at $206.950, down $0.525,

May 25 Feeder Cattle  closed at $297.975, up $0.500,

Aug 25 Feeder Cattle  closed at $300.300, down $0.950,

Sep 25 Feeder Cattle  closed at $299.025, down $1.200,