Cattle Market News and Commentary

Live cattle futures are 15 to 55 cents higher in most contracts at midday. Feeder cattle futures are showing 50 cent to $1.20 gains on Thursday. The CME feeder cattle index was down 26 cents on March 19 at $137.41. Wholesale boxed beef prices were higher in the Thursday morning report, with the Choice/Sel spread at $9.68/cwt. Choice boxes were up 18 cents at $228.85, as Select was 54 cents lower @ $219.17. USDA estimated this week’s FI cattle slaughter at 355,000 head through Wednesday. That was up 7,000 head from the previous week and even with this time last year. Beef export sales in the week of March 14 were at 18,625 MT, as Hong Kong was the top buyer of 6,300 MT. Analysts expect March 1 cattle on feed to be reported at 11.663 million head on Friday afternoon, down just 0.4% from last year. Placements during Feb are seen down 3.8%, with Marketings up 1.5%.

Apr 19 Cattle are at $129.775, up $0.200,

Jun 19 Cattle are at $123.650, up $0.275,

Aug 19 Cattle are at $119.700, up $0.375,

Mar 19 Feeder Cattle are at $142.775, up $0.525

Apr 19 Feeder Cattle are at $148.925, up $0.600

May 19 Feeder Cattle are at $153.275, up $1.150

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
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