Cattle Market Commentary

Live cattle futures posted 25 to 55 cent gains in most contracts on Thursday. Feeder cattle futures were up 25 to 45 cents. The CME feeder cattle index was down 65 cents on November 7 at $152.23. Wholesale boxed beef prices were sharply lower on Thursday afternoon. Choice boxes were down $2.15 @ $216.07, with Select $2.66 lower at $199.11. USDA estimated FI cattle slaughter WTD at 473,000 head. That is 1,000 above the previous week and 5,000 head larger than the same day last year. USDA reported a few $180 dressed sales in the WCB, but most cash trade won’t develop until later today. The USDA S&D table showed 2018 beef production down 30 million pounds at 26.914 billion. Beef production for 2019 was 100 million lower at 27.810 billion pounds on lower first quarter production.

--provided by Brugler Marketing & Management




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