Cattle Market Stronger on Wednesday
Related Stocks
 LEJ24 - Live Cattle
SymLastChgPct
LEJ24185.000s+1.400+0.76%
LEQ24178.200s+1.525+0.86%
GFJ24247.125s+0.250+0.10%
GFK24248.700s+0.425+0.17%

Fat cattle futures closed the midweek session with gains of 15 to 40 cents. June fats pulled back from strong midday gains to close with a 2 cent loss. Cash cattle sales reported on the FCE ranged from $119.25 to $120.25, with the wtd average for the 1,588 head at $119.93. USDA confirmed cash sales at $120 in NE and in KS on Wednesday, though noted trade remains light for the week so far. Dressed trade seems to have gravitated to $191. Feeder cattle futures ended the session with gains of $1.42 to $1.67. The CME Feeder Cattle Index for May 11th was back up by 12 cents to $130.57.   

USDA Quarterly beef production changes raised 2020 production by 22m lbs to 27.174 billion. For 2021, USDA sees higher beef production raising Q2 30m Q3 by 55m and Q4 by 180 million pounds. Total ‘21 production is now estimated at 27.9 billion lbs.   

Wholesale Boxed Beef prices continue the run up, as USDA quoted Choice boxes $2.71 stronger and Select 82 cents higher. Choice rib primals were quoted at $525.27 cwt. USDA estimated FI cattle slaughter at 348,000 head through Wednesday. That is down from 355,000 head last week.  

Jun 21 Cattle  closed at $118.600, down $0.025,

Oct 21 Cattle  closed at $126.550, up $0.400,

May 21 Feeder Cattle  closed at $136.750, up $1.425

Aug 21 Feeder Cattle  closed at $150.525, up $1.675




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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