Cattle Market News and Commentary

Live cattle futures were up 40 to 75 cents on Friday. Feeder cattle futures were up 70 cents to $1.70 on the day, with March up 1.91% for the week. The CME feeder cattle index was up 27 cents on March 7 at $140.03. Wholesale boxed beef prices were higher in the Friday afternoon report, with Choice boxes up 9 cents and Select 24 cents higher. USDA estimated weekly FI cattle slaughter at 603,000 head. Cash cattle traded at $128-128.50 last week, with $205 in the North. The delayed February Cattle on Feed report released on Friday showed 11.678 million head on feed February 1, up 0.41% from February 2018. January placements were down 5.27% from last year at 1.959 million head, while marketings were up 2.8% at 1.91 million head. The WASDE report put projected 2019 beef production at 27.3 billion pounds, down 310 million from February. Both first and second quarter production were trimmed by 100 mil lbs on lighter carcass weights.

--provided by Brugler Marketing & Management




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