Cattle Higher as Japan Eases Restrictions

Live cattle futures are up 27.5 cents to $1.05 at midday. A USDA announcement shows that Japan has agreed to lift the 30-month age restriction on beef imports from the US that was implemented originally as a 20-month following the BSE outbreak in 2003. Feeder cattle futures are 25 cents to $2.0125 higher. The CME feeder cattle index was down $1.75 to $133.06 on May 15. Wholesale boxed beef prices were higher on Friday morning. Choice boxes were up 15 cents at $219.71 with Select boxes 17 cents higher @ $208.05. USDA estimated weekly FI cattle slaughter at 484,000 head through Thursday. That was up 3,000 head from the previous week and 5,000 above the same week last year. Cash sales have been reported at ~$117 this week, with a few down to $115 reported by USDA.

Jun 19 Cattle are at $110.750, up $0.275,

Aug 19 Cattle are at $108.625, up $0.675,

Oct 19 Cattle are at $108.575, up $0.675,

May 19 Feeder Cattle are at $134.475, up $0.250

Aug 19 Feeder Cattle are at $144.775, up $1.450

Sep 19 Feeder Cattle are at $145.950, up $1.725

--provided by Brugler Marketing & Management




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