Live cattle futures saw 20 to 55 cent losses in most contracts on Wednesday. Feeder cattle futures were steady to 40 cents lower, with soon to expire May (today) up $1.075. After Wednesday’s close, the Cold Storage report indicated 430.35 million lbs of beef were in coolers at the end of April, which is a 5-year low. That is down 4.78% from March and down 8.66% from a year ago. The CME feeder cattle index was down 9 cents to $132.16 on May 21. Wholesale boxed beef prices were mixed on Wednesday afternoon. Choice boxes were up 17 cents at $219.75 with Select boxes down 77 cents @ $205.81. USDA has this week’s FI cattle slaughter at 360,000 head through Wednesday. A few cash sales of $115 were reported in the South on Wednesday, with $185-186 in the north. Friday’s Cattle on Feed report is expected to show May 1 on feed numbers up about 2.9% (average of traders surveyed) from a year ago at 11.893 million head.
--provided by Brugler Marketing & Management