Live Cattle Higher on Tuesday, Feeders Feel Pressure from Corn

Live cattle futures closed Tuesday with most contracts 50 cents to $1.025 higher. Feeder cattle futures were down 22.5 cents to $1.70 on pressure from double digit gains in corn. The CME feeder cattle index was up 65 cents to $132.91 on June 10. Wholesale boxed beef prices were mixed on Tuesday afternoon. Choice boxes were up 73 cents at $222.39 with Select boxes 54 cents lower @ $208.25. USDA estimated this week’s FI cattle slaughter through Tuesday @ 243,000 head. That is 7,000 head larger than the same day last year and up 2,000 from last week. USDA trimmed 2019 beef production by 65 million pounds to 22.204 billion, with the reduction mainly in the fourth quarter.

Jun 19 Cattle closed at $110.675, up $0.975,

Aug 19 Cattle closed at $106.825, up $0.525,

Oct 19 Cattle closed at $107.850, up $0.700,

Aug 19 Feeder Cattle closed at $138.125, down $1.700

Sep 19 Feeder Cattle closed at $138.600, down $1.125

Oct 19 Feeder Cattle closed at $138.975, down $0.775

--provided by Brugler Marketing & Management




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