Cattle Market Mixed Despite Gains in Beef Prices

Live cattle futures finished mixed, with Dec and Feb down 10 to 12 cents and Apr gaining $0.22. Feeder cattle futures gained as much as 22 cents (nearby Nov). The 11/08 CME Feeder Cattle index gained 68 cents to $146.52. Wholesale boxed beef prices finished the day with more gains. Choice boxes gained $1.91 to $240.50, in August prices topped $241 for a short time, but the last time choice boxes have been as high as $240 was 6/22/17. Select boxes gained $2.54 for the day to finish at $216.23. Today’s FCE auction will have 1393 head listed with 3/4 sourced from Nebraska. USDA estimated WTD cattle slaughter under federal inspection is 231,000 head, which matches the same week last year’s pace.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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