Live cattle futures saw some mixed trade, with contracts 50 to 75 cents lower in the front months. June was down just 32 cents this week. Cash trade showed sales at $221-223 in the South this week, with business at $234-237 in the North. Feeder cattle futures fell back $1.07 to 1.20 in the nearbys on Friday, with August down $1.55 this week. The CME Feeder Cattle Index was up $1.55 on May 29 with an average price of $299.30.

USDA Export Sales data showed 14,695 MT of beef sold in the week of May 22, a 6-week high. Japan was the largest buyer of 4,200 MT, with 3,100 MT to South Korea. Export Shipments were back down to 12,644 MT. Japan and South Korea were the top buyers of 4,000 MT each.

The Friday afternoon Commitment of Traders report showed spec traders in live cattle futures and options cutting back 1,271 contracts from their net long position to 131,293 contracts as of last Tuesday. In feeder cattle futures and options, managed money trimmed 714 contracts from their large net long position to 33,258 contracts by May 27^th.

USDA’s National Wholesale Boxed Beef report was higher on Friday afternoon, with the Chc/Sel spread at $9.69. Choice boxes were up 25 cents at $366.34, while Select was quoted $3.01 higher at $356.65/cwt. USDA’s Federally inspected cattle slaughter for this week was 477,000 head. That is down 61,910 head from the same holiday week last year.

Jun 25 Live Cattle  closed at $215.475, down $0.050,

Aug 25 Live Cattle  closed at $209.350, down $0.725,

Oct 25 Live Cattle  closed at $207.400, down $0.750,

Aug 25 Feeder Cattle  closed at $298.825, down $1.100,

Sep 25 Feeder Cattle  closed at $297.700, down $1.150,

Oct 25 Feeder Cattle  closed at $295.700, down $1.075,