Live cattle futures settled with 7.5 to 40 cent losses on Tuesday, although front month April was up a dime. Feeder cattle futures were mostly lower in the nearby contracts, with a few back months higher. The CME feeder cattle index was up 20 cents on April 8 at $143.50. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down 35 cents at $228.32 with Select boxes $2.08 lower @ $218.80. USDA estimated week to date cattle slaughter at 240,000 head through Tuesday. That would be 5,000 above last week and 2,000 head more than the same week a year ago. The show list for today’s FCE auction has 510 head listed for sale. USDA’s 2019 beef production estimate was trimmed 20 million pounds to 27.28 billion, mainly on lower third and fourth quarter production.
--provided by Brugler Marketing & Management