Live cattle futures are down $1.50 to $2, following Friday lower than expected cash trade. Basis at the moment is still positive $16-17. Feeder cattle futures are also $1.825 to $2.625 lower. The CME feeder cattle index was down 72 cents on May 10 at $137.21. Wholesale boxed beef values were higher on Monday morning. Choice boxes were up 55 cents at $231.52, with Select boxes 96 cents higher at $209.65. Weekly FI cattle slaughter was estimated at 645,000 head, down 2,000 head from last week but 26,000 head larger than the same week last year. Cash cattle trade was late to develop on Friday, but sales of $122-123 were reported in the afternoon vs. $126-128 the previous week.

Jun 18 Cattle are at $105.625, down $2.000,

Aug 18 Cattle are at $102.825, down $1.600,

Oct 18 Cattle are at $105.975, down $1.500,

May 18 Feeder Cattle are at $136.600, down $1.825

Aug 18 Feeder Cattle are at $141.275, down $2.625

Sep 18 Feeder Cattle are at $141.850, down $2.125

Market Commentary provided by:

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