Cattle Futures Still Looking for Cash Market Direction

Live cattle futures ended Wednesday with the nearby contracts 15 to 50 cents lower. Feeder cattle futures were down 10 to 52.5 cents in the front months. The CME feeder cattle index was up 32 cents @ $135.76 on July 9. Wholesale boxed beef prices were lower again on Wednesday afternoon. Choice boxes were down 31 cents at $214.42 with Select boxes $1.20 lower @ $190.89. USDA estimated week to date FI cattle slaughter at 360,000 head. That was 5,000 below last week and 4,000 head above the same week last year. The weekly FCE auction showed no sales on the 423 head of cattle offered. Very light cash bids of $180 in NE have been reported.

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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