Cattle Market Showing Sharp Losses on Wednesday

Live cattle futures are posting sharp $1.35 to $2.45 losses at midday. Feeder cattle futures are also sharply lower on Wednesday, down $2.85 to $3.25. The CME feeder cattle index was down 13 cents to $145.84 on April 22. Wholesale boxed beef prices were lower on Wednesday morning. Choice boxes were down 40 cents at $233.71, with Select boxes 14 cents lower @ $221.12. USDA estimated this week’s FI cattle slaughter at 236,000 head through Tuesday. That was down 6,000 head from the week prior and even with the same week last year. Wednesday’s FCE online auction saw one lot of 124 head sold for $127, with the other 3 lost unsold and asks of $127.75-128.

Apr 19 Cattle are at $126.975, down $1.350,

Jun 19 Cattle are at $118.675, down $2.450,

Aug 19 Cattle are at $116.150, down $2.050,

May 19 Feeder Cattle are at $146.600, down $3.025

Aug 19 Feeder Cattle are at $156.450, down $3.250

Sep 19 Feeder Cattle are at $157.600, down $3.250

---provided by Brugler Marketing & Management

Market Commentary provided by:

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