Cattle Sharply Lower on Cash Market Weakness

Live cattle futures saw sharp losses in most contracts on Thursday, as June close a tick off limit lower. Feeder cattle futures felt the pressure from live cattle, down $2.975 to $3.55 in the front months. The CME feeder cattle index was down 6 cents to $145.78 on April 23. Wholesale boxed beef prices were lower on Thursday morning. Choice boxes were down 3 cents at $232.93 with Select boxes 53 cents lower @ $219.75. USDA estimated this week’s FI cattle slaughter at 478,000 head through Thursday. That was down 7,000 head from the week prior but 3,000 above the same week last year. A few cash trades were reported at $126 in the South on Wednesday, with $127 sales in NE on Thursday (down $3 wk/wk). Beef export sales in the week of April 18 totaled 23,110 MT, the third largest this year.

Apr 19 Cattle closed at $124.050, down $2.725,

Jun 19 Cattle closed at $115.375, down $2.975,

Aug 19 Cattle closed at $112.925, down $2.900,

May 19 Feeder Cattle closed at $143.550, down $2.975

Aug 19 Feeder Cattle closed at $153.250, down $3.475

Sep 19 Feeder Cattle closed at $154.325, down $3.550

---provided by Brugler Marketing & Management




Market Commentary provided by:

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