Live cattle futures were down 35 cents to $1.05 on the day. Feeder cattle futures were mostly lower, with May expiring higher at $136.40. The CME feeder cattle index was up $1.01 on May 23 at $134.44. Wholesale boxed beef values were lower this afternoon. Choice boxes were down $1.08 at $229.00, with Select boxes 11 cents lower at $204.93. Week to date FI cattle slaughter was estimated at 479,000 head through Thursday. That is 5,000 head larger than last week. Analysts are expecting to see May 1 cattle on feed at 11.535 million head, 4.9% larger than last year. The Cattle on Feed report is scheduled for Friday morning at 11 AM CDT. Export sales of beef were reported at 9,854 MT, a 10.1% drop from last week but 37.9% larger than last year. Actual exports totaled 16,137 MT, 18.72% larger than last year. Cash trade was fairly quiet, with a few light reports of $114-115 sales.

Jun 18 Cattle closed at $104.400, down $1.050,

Aug 18 Cattle closed at $101.775, down $1.025,

Oct 18 Cattle closed at $105.250, down $0.500,

May 18 Feeder Cattle closed at $136.400, up $1.500

Aug 18 Feeder Cattle closed at $143.300, down $0.050

Sep 18 Feeder Cattle closed at $143.100, down $0.200

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353

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