Live cattle futures were trying to keep up with the booming cash market on Friday, as contracts rallied $1.45 to $2.25. June pushed up $2.85 on the week. Cash trade settled in this week with a $5-6 higher trend across the country. Southern trade was observed at $218, with business up to $222-224 in the North. 

Feeder cattle futures joined in on the rally, with contracts up $1.70 to $2.70 across most contracts. May was $4.425 higher this week. The CME Feeder Cattle Index was up 28 cents on May 1, with the average price at $296.38. 

Commitment of Traders data showed live cattle spec funds adding another 8,380 contracts to their net long as of April 29 to a net long of 128,840 contracts. In feeder cattle futures and options, managed money trimmed back 160 contracts from their net long to 27,901 contracts by Tuesday

USDA’s National Wholesale Boxed Beef prices were mixed on Friday afternoon average for, taking the Chc/Sel spread to $17.55. Choice boxes were down 27 cents at $342.90 while Select product as quoted $1.07 higher at $325.35 per hundred pounds. USDA’s Federally inspected cattle slaughter was estimated at 550,000 head this week. That is 5,000 head above the week prior but down 61,527 head from the same week last year.

Jun 25 Live Cattle  closed at $211.100, up $1.450,

Aug 25 Live Cattle  closed at $206.775, up $2.125,

Oct 25 Live Cattle  closed at $204.475, up $2.250,

May 25 Feeder Cattle  closed at $294.950, up $1.725,

Aug 25 Feeder Cattle  closed at $296.900, up $2.450,

Sep 25 Feeder Cattle  closed at $295.550, up $2.700,