Cattle Closed Down by Triple Digits
Alan Brugler, Barchart
May 10, 2022
A wide ranged Tuesday session left the cattle market $0.95 to $1.27 in the red. Feeder cattle futures ended the day with $0.87 to $2.37 losses. Cash trade on Tuesday was confirmed from $138-$140, with Southern deals mostly $139-$140. Northern cash cattle markets have yet to establish, with some light $222 - $230 in the beef reported. Last week’s cash market was mainly $138 - $140 for the South and $146 in the North. The 5/9 CME Feeder Cattle Index was up 12 cents to $156.33.
Wholesale Boxed Beef prices weakened some on Tuesday with Choice $3.05 lower and Select down by 78 cents. USDA estimated the FI cattle slaughter as 125k head for Tuesday, leaving the week’s total as 246k. That compares to 237,000 head from last week and 232k during the same week last year.
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