Live Cattle (P) Futures PricesWednesday, May 22nd, 2013
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Latest Brugler Live Cattle (P) Report
Cattle futures couldn’t stand prosperity, and posted triple digit losses today after nice gains on Monday and Tuesday. Wholesale prices set another new record high for Choice at $211.20 this afternoon. Select boxed beef was quoted 78 cents lower as the spread continues to widen seasonally. Estimated week to date slaughter is 373,000 head, which is 1000 more than last week, but 2000 light vs. year ago. Cash cattle trade has yet to develop, with a few token cattle reported sold at $124 in TX (down $1) and less than a hundred in NE at $200 in the meat. The Cold Storage report was modestly friendly for beef, with inventory down 1.2% from last month and also smaller than the end of April 2012.
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