AgriCharts Market Commentary

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Cattle

Live cattle futures are mixed at midday, with nearby June down 27.5 cents and back months lower. Feeder cattle futures are up 15 to 37.5 cents. The CME feeder cattle index was at $140.73 on June 13, up 3 cents from the previous day. Wholesale boxed beef values were higher on Monday morning. Choice boxes were up $1.49 to $223.08, with Select boxes $1.54 higher at $204.27. USDA weekly FI cattle slaughter was estimated at 654,000 head for last week through Saturday. That was 4,000 head below the previous week. A few $113 bids were reported late on Friday, with some scattered trade reported at that price. Managed money spec funds in live cattle futures and options added 9,278 contracts to their net long position to 23,271 contracts as of Tuesday.

Jun 18 Cattle are at $108.175, down $0.275,

Aug 18 Cattle are at $105.225, up $0.450,

Oct 18 Cattle are at $107.375, up $0.350,

Aug 18 Feeder Cattle are at $148.350, up $0.375

Sep 18 Feeder Cattle are at $148.550, up $0.275

Oct 18 Feeder Cattle are at $148.000, up $0.150

Cattle

Live cattle futures finished the Friday session with strong gains, as Aug flirted with limit up. Feeder cattle futures were also sharply higher, up $3.075 to $4.30 in the front months. The CME feeder cattle index was at $140.73 on June 13, up 3 cents from the previous day. Wholesale boxed beef values were mixed on Friday. Choice boxes are down 49 cents to $221.59, with Select boxes 76 cents higher at $202.73. The Ch/Se spread narrowed $4.17 on the week to $18.86. USDA weekly FI cattle slaughter was estimated at 654,000 head through Saturday. That is now 4,000 head below last week as packers are expected to pick up a few head on Saturday. A few $113 bids were reported late on Friday, with some scattered trade reported at that price. Managed money spec funds in live cattle futures and options added 9,278 contracts to their net long position to 23,271 contracts as of Tuesday.

Cattle

Live cattle futures finished the Friday session with strong gains, as Aug flirted with limit up. Feeder cattle futures were also sharply higher, up $3.075 to $4.30 in the front months. The CME feeder cattle index was at $140.73 on June 13, up 3 cents from the previous day. Wholesale boxed beef values were mixed on Friday. Choice boxes are down 49 cents to $221.59, with Select boxes 76 cents higher at $202.73. The Ch/Se spread narrowed $4.17 on the week to $18.86. USDA weekly FI cattle slaughter was estimated at 654,000 head through Saturday. That is now 4,000 head below last week as packers are expected to pick up a few head on Saturday. Bids were being shown at $111 across most regions on Friday, following light $110 trade on Thursday. Few, if any, Friday sales were reported. Managed money spec funds in live cattle futures and options added 9,278 contracts to their net long position to 23,271 contracts as of Tuesday.

Jun 18 Cattle closed at $108.450, up $2.200,

Aug 18 Cattle closed at $104.775, up $2.900,

Oct 18 Cattle closed at $107.025, up $2.225,

Aug 18 Feeder Cattle closed at $147.975, up $4.300

Sep 18 Feeder Cattle closed at $148.275, up $3.475

Oct 18 Feeder Cattle closed at $147.850, up $3.075

Cattle

Live cattle futures are posting sharp $1.45 to $2.80 gains on Friday. Feeder cattle futures are currently $2.925 to $3.825 higher. The CME feeder cattle index was down 32 cents from the previous day to $140.70 on June 13. Wholesale boxed beef values were mixed on Friday. Choice boxes are down 2 cents to $222.06, with Select boxes 71 cents higher at $202.68. USDA weekly FI cattle slaughter was estimated at 468,000 head, with lighter slaughter the past couple days. That is now 9,000 head below last week and 5,000 head fewer than the same week last year. Bids are being shown at $110 across most regions on Friday, following light $110 trade on Thursday.

Jun 18 Cattle are at $107.700, up $1.450,

Aug 18 Cattle are at $104.675, up $2.800,

Oct 18 Cattle are at $107.025, up $2.225,

Aug 18 Feeder Cattle are at $147.500, up $3.825

Sep 18 Feeder Cattle are at $147.975, up $3.175

Oct 18 Feeder Cattle are at $147.700, up $2.925

Cattle

Live cattle futures settled the Thursday session with sharp $1.675 to $2.125 losses in the front months. Feeder cattle futures were down $1.375 to $1.975 on the day. The CME feeder cattle index was down 32 cents from the previous day to $140.70 on June 13. Wholesale boxed beef values were lower again on Thursday. Choice boxes fell $1.82 to $222.08, with Select boxes 33 cents lower to $201.97. The Ch/Se spread is currently at $20.11, and is starting to narrow seasonally. USDA weekly FI cattle slaughter was estimated at 468,000 head, with lighter slaughter the past couple days. That is now 9,000 head below last week and 5,000 head fewer than the same week last year. A few small cash sales at $110 were picked up this afternoon. Export sales of beef in the week of 6/7 were shown at 22,242 MT, well above this time last year. Shipments were reported at 18,543 MT, the highest weekly export total this year.


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