Cattle Market Posted Sharp Losses on Wednesday

Live cattle futures saw $1.55 to $2.775 losses in most contracts on Wednesday. Feeder cattle futures were down $2.775 to $3.10 in the 2019 contracts. The CME feeder cattle index was down 6 cents to $145.78 on April 23. Wholesale boxed beef prices were lower on Wednesday afternoon. Choice boxes were down $1.15 at $232.96, with Select boxes 98 cents lower @ $220.28. USDA estimated this week’s FI cattle slaughter at 357,000 head through Wednesday. That was down 6,000 head from the week prior but 3,000 above 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. A few cash trades were shown at $126 in the South on Wednesday.

Apr 19 Cattle closed at $126.775, down $1.550,

Jun 19 Cattle closed at $118.350, down $2.775,

Aug 19 Cattle closed at $115.825, down $2.375,

May 19 Feeder Cattle closed at $146.525, down $3.100

Aug 19 Feeder Cattle closed at $156.725, down $2.975

Sep 19 Feeder Cattle closed at $157.875, down $2.975

---provided by Brugler Marketing & Management

Market Commentary provided by:

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