Cattle Futures Wait for Cash Direction

Live cattle futures were down 20 to 50 cents on the day. Feeder cattle futures saw losses of $1.30 to $1.775 on Tuesday, with May up 22.5 cents ahead of Thursday’s Expiration. The CME feeder cattle index was up 43 cents to $132.25 on May 20. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down $1.87 at $219.58 with Select boxes $1.45 lower @ $206.58. Cool and wet weather ahead of the Memorial Day weekend may affect some wholesale demand. USDA estimated this week’s FI cattle slaughter at 240,000 head through Tuesday. That was down 2,000 head from last Monday and even with the same week last year. Cash trade ahead of the Holiday weekend has yet to get started, with Wednesday’s FCE showing 309 head will be offered for sale.

--provided by Brugler Marketing & Management




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