Cattle Market News and Commentary

Live cattle futures settled firm to 92.5 cents higher on Thursday. Feeder cattle futures saw triple digit gains in the front months, with the help of corn. The CME feeder cattle index was up 17 cents on March 6 at $139.76. Wholesale boxed beef prices were higher. Choice boxes were up $1.11 at $226.04 with Select 17 cents higher at $218.54. USDA has week to date FI cattle slaughter at 466,000 head. Cash trade was reported at $128 in the South, with sales of $128-128.50 and $205 in the North. December beef exports were another monthly record (17th month straight) at 261.981 million pounds. That was down 1.7% from November but slightly larger than last year. Total exports in 2018 were a record and 10.41% above 2017 (which was also a record). The Cold Storage report last night showed Jan 31 beef stocks of 510.07 million pounds, slightly above year ago.

--provided by Brugler Marketing & Management




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