Live cattle futures slipped back lower on Friday, falling 82 cents to $1.67, as June was down $4.10 this week. Cash trade has mostly been $256-260 so far this week, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures were down $1.87 to $2.65 at the close, with May up $1.05 on the day. August was down $7.95 this week. The CME Feeder Cattle Index was back down $2.54 to $374.83 on May 7.  

Managed money increased their net long position in live cattle futures and options during the week of 5/5 by 5,374 contracts, taking it to 141,965 contracts. In feeder cattle futures and options, specs added back 1,636 contracts to their net long to 18,725 contracts on Tuesday.

Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel spread at a $3.38 premium to Choice. Choice boxes were up $1.45 to $388.39, while Select was 59 cents higher at $385.01. USDA estimated federally inspected cattle slaughter for the week at 527,000 head through Saturday. That was down 7,000 head from last week and 33,823 head below the same week last year. 

Jun 26 Live Cattle  closed at $248.900, down $1.150,

Aug 26 Live Cattle  closed at $244.100, down $1.800,

Oct 26 Live Cattle  closed at $238.300, down $1.675,

May 26 Feeder Cattle  closed at $367.375, up $1.050,

Aug 26 Feeder Cattle  closed at $364.225, down $1.950,

Sep 26 Feeder Cattle  closed at $362.225, down $2.425,

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