Cattle Market Bulls Show Signs of Life

Live cattle futures were up 30 cents to $1.05 in most contracts on Wednesday. Feeder cattle futures were $1.775 to $2 higher, with help from weakness in corn. The CME feeder cattle index was down 31 cents to $131.88 on June 4. Wholesale boxed beef prices were lower on Wednesday afternoon. Choice boxes were down 89 cents at $222.11 with Select boxes 3 cents higher @ $207.18. USDA shows FI cattle slaughter WTD through Wednesday at 360,000 head. That was 2,000 head larger than the same week last year. Cash trade this week has been around $113 in the South and $114 in the North. Both are $2 lower than last week. Wednesday’s FCE auction saw sales of $113 on 72 of the 412 head offered.

--provided by Brugler Marketing & Management




Market Commentary provided by:

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