Live cattle futures are trading 42.5 cents to $1.025 lower on Wednesday. Feeder cattle futures are down 12.5 cents to $1.05 at midday. The CME feeder cattle index was down 20 cents on May 14 at $135.92. Wholesale boxed beef values were lower on Wednesday morning. Choice boxes were down 65 cents at $230.99, with Select boxes 50 cents lower at $209.01. FI cattle slaughter was estimated at 236,000 head through Tuesday. That is down 2,000 head from last week but 3,000 head larger than the same week last year. A few early cash trades at $117 were reported across the Plains on Tuesday, with today’s FCE auction showing 0 sales on the 2,586 head offered.

Jun 18 Cattle are at $102.550, down $0.425,

Aug 18 Cattle are at $99.525, down $0.875,

Oct 18 Cattle are at $102.725, down $1.025,

May 18 Feeder Cattle are at $133.425, down $0.125

Aug 18 Feeder Cattle are at $137.450, down $1.000

Sep 18 Feeder Cattle are at $137.900, down $1.050

Market Commentary provided by:

Brugler Marketing & Management LLC
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