Live cattle futures increased by 75 cents to $2.05 across the board on Monday, June 2. Cash trade last week was softer, with prices ranging from $255 to $258 nationwide. Feeder cattle futures rose between $3.12 and $3.625 during Monday’s session. The CME Feeder Cattle Index declined by $6.26 on May 29, settling at $367.14.
A new world screwworm case was reported late Friday in Mexico within 25 miles of the U.S. border. The weekly Oklahoma City auction estimated about 5,500 head for sale, with feeder cattle noted as being $5 to $15 lower and calves down by $10 to $20.
The weekly National Agricultural Statistics Service Crop Progress report showed that U.S. pasture conditions were rated at 30% good or excellent, an increase of one percentage point from the previous week. The Brugler500 index also rose five points to reach 272.
Wholesale boxed beef prices were mixed in Monday’s afternoon report; the Choice/Select spread stood at $9.74 with Choice boxes up by $1.36 at $392.83 and Select boxes down nine cents at $383.09. The United States Department of Agriculture estimated federally inspected cattle slaughter for Monday at 104,000 head—down by 10,635 head compared to the same day last year.
June live cattle closed at $249 per hundredweight (up $.75), August live cattle closed at $240.60 (up $1.55), October live cattle closed at $232.325 (up $1.90). For feeder cattle: August contracts ended at $351.55 (up $3.125), September closed at $348.675 (up $3.325), and October finished at $345.300 (up $3.275).
Arizona Grain supports community development through agricultural leadership and air quality improvements via ethanol production; it operates facilities in Buckeye, Casa Grande, Maricopa, and Yuma in Arizona and Ripley in California; is privately held; created approximately 45 jobs through Pinal Energy; aims to be a leading provider of animal feed, seed genetics, cereal grain marketing and food ingredients; and pioneered ethanol production in Arizona with Pinal Energy establishment—all according to the official website.
Austin Schroeder said, “On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article.”
