Fat cattle futures bounced back from limit losses touched earlier in the session, though they still closed $2.50 to $3.00 in the red. Cash cattle sales for the week so far have been $119 to $120.25. Dressed trade seems to have gravitated to $191. Feeder cattle futures ended the Thursday round of trading with losses of 2 to 25 cents. The CME Feeder Cattle Index for May 12th was another 44 cents stronger to $131.01.   

The weekly Export Sales report showed 13,136 MT of beef was sold during the week ending 5/6. Japan and China were the top buyers. Sales were down from 16,928 MT last week, but weekly sales remain well above year ago levels. Beef exports were also higher yr/yr with 17,696 MT shipped during the week. YTD beef shipments are 319,537 MT through May 6th.

Wholesale Boxed Beef prices were mixed again in the PM update which widened the Chc/Sel spread to $20.87. Choice boxes were quoted $1.87 stronger at $316.78, and Select prices were down by $1.25. USDA estimated FI cattle slaughter at 466,000 head through Thursday. That compares to 470,000 head through Thursday last week, but due to shutdowns last year’s pace was 372,000 head.   

Jun 21 Cattle  closed at $115.600, down $3.000,

Oct 21 Cattle  closed at $124.050, down $2.500,

May 21 Feeder Cattle  closed at $137.450, up $0.700

Aug 21 Feeder Cattle  closed at $150.500, down $0.025