Cattle Market Commentary

Live cattle futures settled steady to 55 cents higher on Thursday. Feeder cattle futures were steady to $1.225 higher. The CME feeder cattle index was down 5 cents from the previous day at $150.29. Wholesale boxed beef values were mixed on Thursday afternoon. Choice boxes were at $209.10 down 85 cents, while Select boxes were up that same amount at $201.46. USDA FI cattle slaughter was estimated at 474,000 head through Thursday. That is down 3,000 head from the previous week but 8,000 head above the same week in 2017. Bids of $108 were still being shown across the country on Thursday. US weekly beef export sales totaled 21,529 MT, a 47.9% jump from last week. Export shipments slipped a bit from last week at 16,992 MT, but were 8.14% larger than last year. Total export commitments for 2018 are now a phenomenal 19% larger than last year.

Market Commentary provided by:

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