Cattle Market Firms Ahead of COF Report

Live cattle futures saw 5 to 25 cent gains in most contracts on Thursday, with Feb 2020 down a tick. Feeder cattle futures were steady to 42.5 cents higher on the day, as May expired at $135.60. The CME feeder cattle index was up $1.54 to $133.70 on May 22. Wholesale boxed beef prices were higher on Thursday afternoon. Choice boxes were up $1.04 at $220.79 with Select boxes 72 cents higher @ $206.53. USDA has this week’s FI cattle slaughter at 477,000 head through Thursday. A few cash sales of $115 were reported in the South on Wednesday, with $185-186 dressed in the north. Some cash trade in the north was reported at $116 on Thursday. Friday’s Cattle on Feed report is expected on average to show April placements up 13.5% from a year ago, with marketings in that month 6.6% higher. Export sales of beef were 24,394 MT in the week of May 16. Shipments were seen at 17,940 MT.

--provided by Brugler Marketing & Management




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