Live Cattle Higher, Feeders Lower Pressured by Corn

Live cattle futures are showing 25 to 40 cent gains in the nearby contracts. Feeder cattle futures are mostly a dime to $1.175 lower, with May up 20 cents. Gains in corn are pressuring feeders. The CME feeder cattle index was down 32 cents to $135.07 on May 13. Wholesale boxed beef prices were mixed on Wednesday morning. Choice boxes were up 41 cents at $220.53 with Select boxes 50 cents lower @ $208.47. USDA estimated weekly FI cattle slaughter at 242,000 head through Tuesday. That was up 2,000 head from the previous week and 5,000 above the same week last year. Wednesday’s FCE online auction saw sales on 280 of the 376 head at $117. Most other cash sales around the country today have started the week at that $117.

Jun 19 Cattle are at $109.750, up $0.250,

Aug 19 Cattle are at $107.050, up $0.325,

Oct 19 Cattle are at $106.800, up $0.325,

May 19 Feeder Cattle are at $136.200, up $0.200

Aug 19 Feeder Cattle are at $142.400, down $0.100

Sep 19 Feeder Cattle are at $143.250, down $0.325

--provided by Brugler Marketing & Management




Market Commentary provided by:

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