AgriCharts Market Commentary

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Cattle

Live cattle futures are mostly $1.025 to $2.175 higher on Tuesday. Feeder cattle futures are posting $2.20 to $3.175 gains at the moment. The CME feeder cattle index was $2.31 lower than the previous day at $145.49 for August 18. Wholesale beef prices were higher in the Tuesday morning report, with choice up 73 cents at $193.82 and select boxes a penny higher at $191.63. The choice/select spread is now at $2.19. Wednesday’s FCE online auction is showing 1,067 head for sale. There are reports of starter cash bids of $106 this morning. FI cattle slaughter for Monday was estimated at 118,000 head, 2,000 more than the previous week but 6,000 larger than the same week last year.

Aug 17 Cattle are at $107.025, up $1.025,

Oct 17 Cattle are at $107.850, up $2.000,

Dec 17 Cattle are at $110.225, up $2.175,

Aug 17 Feeder Cattle are at $142.000, up $2.200

Sep 17 Feeder Cattle are at $142.250, up $3.100

Oct 17 Feeder Cattle are at $142.675, up $3.175

Cattle

Live cattle futures ended Monday with contracts on both sides of UNCH. Nearby Aug was down 37.5 cents. Feeder cattle futures were down anywhere from a nickel to 87.5 cents on Monday. The CME feeder cattle index was $2.31 lower than the previous day at $145.49 for August 18. Wholesale beef prices were lower again in the Monday afternoon report, with choice down $1.20 at $193.09 and select boxes 88 cents lower at $191.62. The choice/select spread has now narrowed to $1.47, level typically not seen until February or March. FI cattle slaughter for Monday was estimated at 118,000 head, 2,000 more than the previous week but 6,000 larger than the same week last year.

Cattle

Live cattle futures ended Monday with contracts mixed. Nearby Aug was down 37.5 cents. Feeder cattle futures were down a nickel to 87.5 cents on Monday. The CME feeder cattle index was $2.31 lower than the previous day at $145.49 for August 18. Wholesale beef prices were lower again in the Monday afternoon report, with choice down $1.20 at $193.09 and select boxes 88 cents lower at $191.62. The CH/SE spread has now narrowed to $1.47. FI cattle slaughter for Monday was estimated at 118,000 head, 2,000 more than the previous week but 6,000 larger than the same week last year.

Aug 17 Cattle closed at $106.000, down $0.375,

Oct 17 Cattle closed at $105.850, down $0.050,

Dec 17 Cattle closed at $108.050, up $0.200,

Aug 17 Feeder Cattle closed at $139.800, down $0.700

Sep 17 Feeder Cattle closed at $139.150, down $0.875

Oct 17 Feeder Cattle closed at $139.500, down $0.425

Cattle

Live cattle futures are mixed at midday, with nearby Aug down 57.5 cents. Feeder cattle futures are 70 cents to $1.025 lower. The CME feeder cattle index was 36 cents higher than the previous day at $144.80 for August 17. Wholesale beef prices were lower again in the Monday morning report, with choice down 8 cents at $193.51 and select boxes 6 cents lower at $192.44. The CH/SE spread has now narrowed to $1.07. Cash sales of $110-$110.50 were reported across most regions last week, down $5 from the previous week. Weekly FI cattle slaughter was estimated at 634,000 head, 7,000 fewer than the previous week but 32,000 larger than the same week last year. The Commitments of Traders report showed managed money a little more aggressive in getting out of their net long position in live cattle futures and options this week. They lowered that position by 13,593 contracts to +81,175 as of Tuesday.

Aug 17 Cattle are at $105.800, down $0.575,

Oct 17 Cattle are at $105.975, up $0.075,

Dec 17 Cattle are at $108.025, up $0.175,

Aug 17 Feeder Cattle are at $139.775, down $0.725

Sep 17 Feeder Cattle are at $139.000, down $1.025

Oct 17 Feeder Cattle are at $139.225, down $0.700

Cattle

Live cattle futures settled mixed Friday as nearby contracts were lower and back months higher. Aug lost 3.05% on the week, as cash trade was weaker. Feeder cattle futures were mixed as well with Aug up 2.5 cents and other front months lower. The CME feeder cattle index was 36 cents higher than the previous day at $144.80 for August 17. Wholesale beef prices were lower again in the Friday afternoon report, with choice down $1.34 at $194.29 and select boxes $1.70 lower at $192.50. The CH/SE spread is now at $1.70. Cash sales of $110-$110.50 were reported across most regions last week, down $5 from the previous week. Weekly FI cattle slaughter was estimated at 634,000 head, 7,000 fewer than the previous week but 32,000 larger than the same week last year. The Commitments of Traders report showed managed money a little more aggressive in getting out of their net long position in live cattle futures and options this week. They lowered that position by 13,593 contracts to +81,175 as of Tuesday.


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