Cattle Gains Triple Digits on Tuesday
Related Stocks
 LEM21 - Live Cattle

Fat cattle futures closed the Tuesday session with gains of $1.35 to $1.70, save for June contracts which gained 40 cents. Cash trade remains light through Tuesday with some reports of $119.50 in TX, and Northern dressed deals at $191. Central Stockyards is hosting the FCE tomorrow featuring 2,029 head of cattle from NE, KS, and TX.  Feeder cattle futures recovered from midday losses and closed 15 to 47 cents in the black. The CME Feeder Cattle Index for May 7th was down 68 cents to $130.15.     

Wholesale Boxed Beef prices were stronger in the PM update with a $3.26 increase for Choice and a $2.58 bump to Select. USDA’s estimate for federally inspected cattle slaughter was 118,000 head for Tuesday. That has the WTD slaughter at 230,00 head after a 7,000 reduction to Monday’s estimate. 

Jun 21 Cattle  closed at $118.625, up $0.400,

Oct 21 Cattle  closed at $126.150, up $1.600,

May 21 Feeder Cattle  closed at $135.325, down $0.125

Aug 21 Feeder Cattle  closed at $148.850, up $0.150

Market Commentary provided by:

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