Live cattle futures saw higher trade on Monday, with contracts rallying 75 cents to $1.20. Preliminary open interest was up 1,329 contracts, with August up 3,176 contracts. Cash action was quiet on Monday, with last week’s Southern sales $218-220 and $229 in the north. Feeder cattle futures were mixed on Monday, with front months down 12 cents to $1.17 and some fall contracts higher. The CME Feeder Cattle Index was down $1.97 on May 16 with an average price at $298.86. The weekly OKC feeder cattle auction has an estimated 9,400 head for sale, with a prices listed $5-10 lower.

Crop Progress data showed 40% of the US pasture ground rated at good/excellent, up 4% from the previous week, as the Brugler500 index was up 8 points to 303.

USDA’s National Wholesale Boxed Beef report from Monday morning was higher, with the Chc/Sel spread at $10.70. Choice boxes were up $2.32 at $354.81, while Select was quoted $1.72 higher at $344.11 per hundred pounds. USDA’s Federally inspected cattle slaughter for Monday was estimated at 115,000 head. That is up 16,000 head from the week prior but down 3,333 head from the same Monday last year.

Jun 25 Live Cattle  closed at $212.975, up $0.750,

Aug 25 Live Cattle  closed at $207.925, up $1.175,

Oct 25 Live Cattle  closed at $205.075, up $1.100,

May 25 Feeder Cattle  closed at $295.675, down $1.175,

Aug 25 Feeder Cattle  closed at $297.475, down $0.125,

Sep 25 Feeder Cattle  closed at $296.325, up $0.050,