Cattle Mostly Higher, Led by Feeders

Live cattle futures were mixed on Thursday, with nearby June higher for the first time in 14 sessions and back months lower. Feeder cattle futures were 22.5 to 60 cents higher. The CME feeder cattle index was down 74 to $135.83 on May 8. Wholesale boxed beef prices were lower on Thursday afternoon. Choice boxes were down 54 cents at $222.47 with Select boxes 41 cents lower @ $207.08. USDA estimated this week’s FI cattle slaughter at 481,000 head through Thursday. That was down 2,000 head from the previous week and 2,000 above the same week last year. The Wednesday morning FCE auction showed sales @ $120 on 670 of the 863 head offered. Cash trade so far this week has been around $120 in the south and $120-121 in the north. Weekly beef export sales of 24,178 MT were reported by the USDA this morning for the week that ended on May 2. Shipments were reported at the largest weekly export total on record back to 2002 at 23,886 MT.

Jun 19 Cattle closed at $111.950, up $0.875,

Aug 19 Cattle closed at $107.600, up $0.200,

Oct 19 Cattle closed at $107.650, unch,

May 19 Feeder Cattle closed at $136.250, up $0.475

Aug 19 Feeder Cattle closed at $144.475, up $0.600

Sep 19 Feeder Cattle closed at $145.275, up $0.425

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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