Live cattle futures are showing 12.5 cent to $1.30 gains at midday. Feeder cattle futures are steady to 45 cents higher. The CME feeder cattle index was up 9 cents on May 8 at $138.00. Wholesale boxed beef values were higher on Thursday morning. Choice boxes were up 45 cents at $231.41, with Select boxes 98 cents higher at $209.93. Estimated FI cattle slaughter was 356,000 head through Wednesday, up 3,000 head from last week and 9,000 head larger than the same week last year. Cash bids so far on Thursday are at $120-121 in the South and reported as high as $122 in the North. Export sales of beef in the week of 5/3 were indicated at 11,287 MT, up 4.7% from last year but 30.4% lower than last week. Quarterly beef production saw a 420 million pound reduction for 2018 at 27.215 billion pounds, with the second quarter down 305 million pounds from April in the WASDE report.

Jun 18 Cattle are at $106.975, up $1.300,

Aug 18 Cattle are at $103.925, up $0.550,

Oct 18 Cattle are at $106.875, up $0.125,

May 18 Feeder Cattle are at $137.600, up $0.450

Aug 18 Feeder Cattle are at $142.775, up $0.075

Sep 18 Feeder Cattle are at $143.175, unch,

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
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