Cattle Market News and Commentary

Live cattle futures settled steady to 65 cents higher on Wednesday. Feeder cattle futures were mixed, with front month March up 25 cents and other nearby contracts lower. The CME feeder cattle index was up 6 cents on March 12 at $139.08. Wholesale boxed beef prices were mixed in the Wednesday afternoon report, with the Ch/Se spread widening to $8.96/cwt. Choice boxes were up 2 cents at $228.24, as Select was $1.07 lower @ $219.28. USDA estimated the WTD FI cattle slaughter at 354,000 head, up 4,000 wk/wk and 3,000 larger than last year. FCE’s online auction saw no sales on the 755 head offered on Wednesday, with bids of $126.50 passed by feedlots. Cash trades on Wednesday were later reported at $127 across most regions.

--provided by Brugler Marketing & Management

Market Commentary provided by:

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