Live cattle futures are back up $1.50 to $2.02 so far on Thursday. Cash action started off with sales of $218-220 in the South, with northern action at $225-228 kicking up on Thursday. Feeder cattle futures are posting $2.80 to $3.15 gains so far. The CME Feeder Cattle Index was back down 37 cents on May 6, with the average price at $293.41. 

Export Sales data showed a total of 7,642 MT of beef sold in the week ending on May 1, which was a calendar year low. Japan purchased 6,600 MT, with 1,900 MT sold to South Kora and 5,500 MT in net reductions reported for China. Shipments slipped back from the week prior to 15,122 MT. South Korea was destined for 5,200 MT, with 4,400 MT to Japan.

USDA’s National Wholesale Boxed Beef prices were higher again on Thursday morning, with the Chc/Sel spread at $13.22. Choice boxes were up $1.65 at $347.80, while Select was quoted 58 cents higher at $334.58 per hundred pounds. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 119,000 head, with the week to date total at 349,000 head. That is 4,000 head above the week prior but down 14,028 head from the same week last year.

Jun 25 Live Cattle  are at $214.550, up $2.025,

Aug 25 Live Cattle  are at $210.350, up $1.975,

Oct 25 Live Cattle  are at $207.750, up $1.575,

May 25 Feeder Cattle  are at $297.575, up $3.125

Aug 25 Feeder Cattle  are at $301.475, up $2.875

Sep 25 Feeder Cattle  are at $300.400, up $3.075