Live Cattle (P) Futures PricesThu, May 28th, 2015
Latest Brugler Live Cattle (P) Report
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Live cattle futures settled 12 to 132 higher, with the front three contracts showing triple digit gains. The cash cattle market has been holding its ground, and we see sporadic bounces in the futures from their deeply discounted level. They still have a month to converge with cash. Estimated week to date FI slaughter is 364,000 head vs. 350,000 for the same period a year ago. Cash cattle trade will take a while to develop, with packer offerings apparently $157 and asking prices at $163 ($258-259 in the North). Wholesale beef prices were lower today with choice off $1.86 and select off $3.14; both lost more than 1% from Thursday to Thursday.
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