How did the CME feeder cattle index perform on May 17?

The CME Feeder Cattle index was up $3.83 on May 17 to $246.87 and converging nicely with May FC futures. USDA’s Wholesale Boxed Beef prices were mixed in the Monday PM report. Choice boxes were down 75 cents at $312.70, with Select $1.95 higher to $299.35. That narrowed the Chc/Sel spread to $13.35.

What happened to feed cattle in May?

Feeder cattle were down 42 cents to $1.37 across most contracts, with May down a tick ahead of Thursday’s expiration. The CME Feeder Cattle index was up $3.83 on May 17 to $246.87 and converging nicely with May FC futures. USDA’s Wholesale Boxed Beef prices were mixed in the Monday PM report.

Are cattle futures on the verge of a technical breakout?

Cattle futures prices have largely been consolidating over the last month but appear to be on the verge of a technical breakout ahead of what is viewed as a seasonally friendly time of year. Live cattle closed the Friday session with contracts up 67 cents to $2.02. June was up $4.90 on the week.