Cattle Higher at Midday

Live cattle futures are 85 cents to $1.55 higher in most contracts at midday. Feeder cattle futures are up a sharp $3.50 to $4.05 on short covering and weakness in the grains. The CME feeder cattle index was down $58 to $133.05 on May 31. Wholesale boxed beef prices were higher on Tuesday morning. Choice boxes were up 37 cents at $223.57 with Select boxes 56 cents higher @ $207.43. USDA shows FI cattle slaughter for Monday at 121,000 head. That was 3,000 head larger than the same week last year. According to a Reuters report, Brazil has stopped shipments of beef to China after a case of atypical mad cow disease was discovered in Mato Grosso. A few cattle exchanged hands at $113 in the South on Monday.

Jun 19 Cattle are at $107.625, up $0.850,

Aug 19 Cattle are at $104.275, up $1.475,

Oct 19 Cattle are at $104.900, up $1.375,

Aug 19 Feeder Cattle are at $137.550, up $4.050

Sep 19 Feeder Cattle are at $138.050, up $3.925

Oct 19 Feeder Cattle are at $138.300, up $3.775

--provided by Brugler Marketing & Management

Market Commentary provided by:

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