AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Cattle

Live cattle futures finished with up to 67.5 cent gains in most front contracts. Feeder cattle futures were mostly lower, with nearby Oct up 37.5 cents. The CME feeder cattle index was 20 cents lower at $155.26 on October 16.Wholesale beef prices were lower in this afternoon’s report. Choice was down 40 cents at $197.26, with select boxes 76 cents lower at $189.09. Weekly FI cattle slaughter through Wednesday is estimated at 345,000 head, about 6,000 fewer than the previous week and 2,000 head larger than the same week last year. This morning’s FCE showed sales of just 230 of the 919 head, at an average price of $109. There were 2 additional lots showing offers at $109 passed by feedlots. Cash trade was reported at $110 in several regions this afternoon. Ahead of Friday afternoon’s Cattle on Feed report, a Reuters survey of analysts is showing September placements 8% larger yr/yr, with a range of 3.4% to 16%. Marketing’s for September are seen at 2.6% larger than last year. On Feed would be up 4-5% from year ago.

Oct 17 Cattle closed at $111.475, up $0.300,

Dec 17 Cattle closed at $116.650, up $0.675,

Feb 18 Cattle closed at $120.550, up $0.400,

Oct 17 Feeder Cattle closed at $152.525, up $0.375

Nov 17 Feeder Cattle closed at $152.075, down $0.350

Jan 18 Feeder Cattle closed at $150.125, down $0.275

Cattle

Live cattle futures are currently 35 to 50 cents higher at midday. Feeder cattle futures are seeing mixed trade, as nearby Oct is up 30 cents. The CME feeder cattle index was 60 cents lower at $155.06 on October 16.Wholesale beef prices were mixed in this morning’s report. Choice was up 23 cents at $197.89, with select boxes 48 cents lower at $189.37. Weekly FI cattle slaughter through Tuesday is estimated at 227,000 head, about 6,000 fewer than the previous week and 2,000 head lower than the same week last year. This morning’s FCE showed sales of just 230 of the 919 head, at an average price of $109. There were 2 additional lots showing offers at $109 passed by feedlots. Cash bids at noon are running around $110 in most regions. Ahead of Friday afternoon’s Cattle on Feed report, a Reuters survey of analysts is showing September placements 8% larger yr/yr, with a range of 3.4% to 16%. Marketing’s for September are seen at 2.6% larger than last year.

Oct 17 Cattle are at $111.575, up $0.400,

Dec 17 Cattle are at $116.475, up $0.500,

Feb 18 Cattle are at $120.500, up $0.350,

Oct 17 Feeder Cattle are at $152.450, up $0.300

Nov 17 Feeder Cattle are at $151.850, down $0.575

Jan 18 Feeder Cattle are at $149.800, down $0.600

Cattle

Live cattle futures posted 55 cent to $1.375 losses on Tuesday. Feeder cattle futures saw triple digit losses in most contracts. The CME feeder cattle index was 60 cents lower at $155.06 on October 16. Wholesale beef prices were lower in the Tuesday afternoon report. Choice was down $1.15 at $197.66, while select boxes were 72 cents lower at $189.85. Weekly FI cattle slaughter through Tuesday is estimated at 227,000 head, about 6,000 fewer than the previous week and 2,000 head lower than the same week last year. The FCE is showing only 919 head consigned for the online auction today, with a majority of the lots from KS.

Cattle

Live cattle futures posted 55 cent to $1.375 losses in most contracts today. Feeder cattle futures saw triple digit losses in most contracts. The CME feeder cattle index was 60 cents lower at $155.06 on October 16. Wholesale beef prices were lower in the Tuesday afternoon report. Choice was down $1.15 at $197.66, while select boxes were 72 cents lower at $189.85. Weekly FI cattle slaughter through Tuesday is estimated at 227,000 head, about 6,000 fewer than the previous week and 2,000 head lower than the same week last year. The FCE is showing only 919 head consigned for Wednesday’s online auction, with a majority of the lots from KS.

Oct 17 Cattle closed at $111.175, down $0.550,

Dec 17 Cattle closed at $115.975, down $0.850,

Feb 18 Cattle closed at $120.150, down $0.775,

Oct 17 Feeder Cattle closed at $152.150, down $1.850

Nov 17 Feeder Cattle closed at $152.425, down $2.125

Jan 18 Feeder Cattle closed at $150.400, down $2.150

Cattle

Live cattle futures are showing gains of 27.5 to 62.5 cents on Tuesday. Feeder futures are mixed, with nearby Oct a dime lower. The CME feeder cattle index was 43 cents higher at $155.66 on October 13.Wholesale beef prices were lower in the Tuesday morning report. Choice was down 30 cents at $198.51, while select boxes were 75 cents lower at $189.82. The drop credit was down 1 cent to $10.26/cwt live basis on Monday. FI cattle slaughter was light on Monday and estimated at 110,000 head, about 5,000 fewer than the previous week and 4,000 head lower the same week last year. The FCE is showing only 919 head consigned for Wednesday’s online auction, with a majority of the lots from KS.

Oct 17 Cattle are at $112.350, up $0.625,

Dec 17 Cattle are at $117.100, up $0.275,

Feb 18 Cattle are at $121.500, up $0.575,

Oct 17 Feeder Cattle are at $153.900, down $0.100

Nov 17 Feeder Cattle are at $154.525, down $0.025

Jan 18 Feeder Cattle are at $152.575, up $0.025


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com