Live cattle futures closed the Thursday session with contracts down $2.80 to $3.92 despite a failed midday rally off the lows. Cash trade has seen action kick off at $256-260 so far through Thursday, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures were down $6.07 to $6.87 on the day. The CME Feeder Cattle Index was back down $2.90 to $372.29 on May 5.  

Brazil’s president Lula was in DC on Thursday talking with President Trump over trade and tariffs, though few details were released.

The Tuesday APHIS update on the New World Screwworm showed a total of 1,702 active cases of in Mexico as of Wednesday. There were 133 active cases in the bordering state of Tamaulipas (3 within a range of 96-97 miles of the US border), 44 active in Nuevo Leon (11 within a range of 79-98 miles of the US border), and 4 in Coahuila.

The weekly Export Sales report showed 10,005 MT of beef sold for 2026 in the week ending on April 30. That was the second lowest for the calendar year. Japan was the buyer of 3,000 MT, with 2,500 MT sold to Taiwan. Shipments were pegged at 14,207 MT, which was a 6-week high. The top destination was South Korea at 4,400 MT, with 3,600 MT headed to Japan.

Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel spread at a $2.52 premium to Choice. Choice boxes were down $2.68 to $386.94, while Select was $5.21 lower at $384.42. USDA estimated federally inspected cattle slaughter for Thursday at 109,000 head, taking the weekly total to 422,000 head. That is down 12,000 head from last week and 46,428 head below the same week last year. 

Jun 26 Live Cattle  closed at $250.050, down $3.425,

Aug 26 Live Cattle  closed at $245.900, down $3.000,

Oct 26 Live Cattle  closed at $239.975, down $3.750,

May 26 Feeder Cattle  closed at $366.325, down $6.075,

Aug 26 Feeder Cattle  closed at $366.175, down $6.875,

Sep 26 Feeder Cattle  closed at $364.650, down $6.650,