Cattle Mostly Higher at Midday

Live cattle futures are a tick to 80 cents higher in most contracts, with nearby June down a dime. Feeder cattle futures are supported by weakness in corn, up 77.5 cents to $1.475 at midday. The CME feeder cattle index was down 70 cents to $133.55 on June 14. Wholesale boxed beef prices were mixed on Tuesday morning. Choice boxes were down 3 cents at $221.79 with Select boxes 49 cents higher @ $203.00. USDA estimated Monday’s FI cattle slaughter @ 120,000 head. That was 14,000 head larger than the same point last year and down 1,000 from last week. A few scattered bids of $109 have been reported so far on Tuesday.

Jun 19 Cattle are at $109.350, down $0.100,

Aug 19 Cattle are at $105.650, up $0.025,

Oct 19 Cattle are at $107.075, up $0.375,

Aug 19 Feeder Cattle are at $137.700, up $0.775

Sep 19 Feeder Cattle are at $138.050, up $0.875

Oct 19 Feeder Cattle are at $138.275, up $1.125

--provided by Brugler Marketing & Management

Market Commentary provided by:

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