Cattle Mostly Lower Ahead of Cattle on Feed Report

Live cattle futures are mostly lower on Friday, with June up 20 cents. Feeder cattle futures are also in the red in most contracts, as the new front month August is up 12.5 cents. The CME feeder cattle index was up $1.54 to $133.70 on May 22. Wholesale boxed beef prices were higher on Friday morning. Choice boxes were up 71 cents at $221.50 with Select boxes $1.95 higher @ $208.48. USDA has this week’s FI cattle slaughter at 477,000 head through Thursday. Cash trade so far this week has been seen at $115 in the South and $115-116 in the North. Friday’s Cattle on Feed report is expected on average to show April placements up 13.5% from a year ago, with marketings in that month 6.6% higher. May 1 cattle on feed is seen up 2.9% yr/yr.

Jun 19 Cattle are at $111.000, up $0.200,

Aug 19 Cattle are at $107.775, down $0.375,

Oct 19 Cattle are at $107.675, down $0.375,

Aug 19 Feeder Cattle are at $143.150, up $0.125

Sep 19 Feeder Cattle are at $143.800, down $0.200

Oct 19 Feeder Cattle are at $144.225, down $0.525

--provided by Brugler Marketing & Management

Market Commentary provided by:

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