Feedlot attitudes received a shot in the arm on Tuesday due to the sharply higher close in the cattle futures complex. Triple digit gains dominated both the live and feeder pits, adding credence to the technical significance of Monday’s reversals. Such actions should work to fortify or at least in the short run, higher asking prices of around 127.00 plus in the South and 203.00 to 205.00 plus in the North.  The cattle slaughter totaled 124,000 head, even with last week, but 1,000 smaller than a year ago.

Boxed beef cutout values were weak on select and firm on choice on light to moderate demand and offerings. Choice boxed beef was .41 higher at 210.66, and select was down .44 at 192.97.

Live cattle contracts settled 90 to 130 points higher on Tuesday as moderate to aggressive buyer support stepped back into the cattle market. The firmness in the feeder pit and the strong losses in the corn market drew buyers back into the oversold live cattle futures. June settled 97 points higher at 121.10 and August was up 1.22 at 120.37.

Feeder cattle ended the session 90 to 207 points higher with only the May contract lower. The sharp double digit losses in the corn market caused some feeder cattle traders to step back into the market. May settled .62 lower at 131.90, and August was up 2.00 at 146.47.

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Feedlot country was generally quiet on Monday afternoon following the distribution of the new showlists. Ready numbers are generally larger, especially in the South. A few of the showlists have been priced around 127.00 plus in the South and 203.00 to 205.00 in the North. The kill totaled 125,000 head, 2,000 more than last week, but even with a year ago.

Boxed beef cutout values were firm to higher on moderate demand and light offerings. Choice beef was up .53 at 210.04, and select was 1.10 higher at 193.41.

Chicago Mercantile Exchange live cattle contracts settled 25 to 72 points higher. The moderate to strong gains developed through the complex with the initial downward pressure replaced by firmer commercial support according to DTN. Higher boxed beef prices at midday were supportive to the live issues. June settled .72 higher at 120.12, and August was up .60 at 119.15.

Feeder cattle ended the session mostly 85 to 130 higher with only the May contract in the red. As the initial shock of the cattle on feed reports negative placement figure wore off the market turned mixed and ended mostly higher. May settled 1.37 lower at 132.52, and August was up 1.10 at 144.47.

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USDA Mandatory reported cattle trading and demand was light in Kansas on Friday, with live sales .50 to 1.00 lower than last week at 125.00, a few at 125.50. Cattle traded on a limited basis in Nebraska and Iowa with a few cattle on a live basis trading from 125.00 to mostly 126.00. Dressed deals in Iowa and Nebraska from 200.00 to 202.00. The Texas Panhandle traded about 7,000 head on Thursday at 125.00, a 1.00 lower than last week.

Boxed beef cutout values were weak on select and firm on choice on light to moderate demand and offerings. Choice beef was up .74 at 209.51, and select was .40 lower at 192.31.

The weekly cattle kill at was at 652,000 head, 21,000 more than last week and 8,000 greater than last year. The last time the weekly slaughter total reached 652,000 head level, was August last year.

Live cattle contracts settled 30 to 117 points lower on the Chicago Mercantile Exchange on Friday. Despite the ability to keep June cattle futures contained to narrow losses on Friday, the overall tone of the market weakened further through the session. The strong support in the dollar index and stock markets added to commodity market liquidation. Boxed beef prices were steady to weaker at midday and provided no support to the futures market. June settled .50 lower at 119.40, and August was down 1.17 at 118.55.

Feeder cattle settled 112 to 175 lower. Traders posted moderate to sharp losses as weakness through the livestock markets drew additional trade into the complex. May settled 1.12 lower at 133.90, and August was down 1.75 at 143.37.

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