Cattle Marginally Mixed at Midday

Live cattle futures are anywhere from 10 cents higher to 20 cents lower in the front months at midday. Feeder cattle futures are also mixed, with expiring May up 15 cents. The CME feeder cattle index was down 9 cents to $132.16 on May 21. Wholesale boxed beef prices were higher on Thursday morning. Choice boxes were up 76 cents at $220.51 with Select boxes 86 cents higher @ $2036.67. USDA has this week’s FI cattle slaughter at 360,000 head through Wednesday. A few cash sales of $115 were reported in the South on Wednesday, with $185-186 in the north. Some cash trade in the north was reported at $116 this morning. Friday’s Cattle on Feed report is expected to show April placements up 13.5% from a year ago, with marketings in that month 6.6% higher. Export sales of beef were reported at 24,394 MT in the week of may 16 this morning. Shipments were seen at 17,940 MT.

Jun 19 Cattle are at $110.750, up $0.100,

Aug 19 Cattle are at $107.875, down $0.075,

Oct 19 Cattle are at $107.775, down $0.025,

May 19 Feeder Cattle are at $135.600, up $0.150

Aug 19 Feeder Cattle are at $142.525, down $0.075

Sep 19 Feeder Cattle are at $143.575, down $0.300

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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