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 are trading 57.5 to 97.5 cents in the red at midday. Feeder cattle futures are also down 95 cents to$ 1.575 in the nearby contracts. The CME feeder cattle index was up 58 cents on June 26 at $146.42. Wholesale beef prices were sharply lower in the Wednesday morning report, with choice boxes down $4.19 at $229.72. Select was $2.07 lower, with an average of $213.19. The Ch/Se spread is now down to $16.53. Estimated FI cattle slaughter through Tuesday was 235,000 head, 4,000 above last week and 10,000 greater than last year. Trade on the FCE this morning showed sales of $119-$120 on 3 lots, as 480 of the 2,554 head were sold. The average price on all lots sold was $119.68.

Jun 17 Cattle are at $119.025, down $0.575,

Aug 17 Cattle are at $114.050, down $0.975,

Oct 17 Cattle are at $112.025, down $0.750,

Aug 17 Feeder Cattle are at $143.300, down $1.575

Sep 17 Feeder Cattle are at $143.150, down $1.375

Oct 17 Feeder Cattle are at $142.025, down $0.950

Cattle

Live cattle futures gave back gains from Monday and were down $1.875 to $3.25 on Turnaround Tuesday. Feeder cattle futures were also sharply lower, down $2.075 to $4.575 in the nearby contracts. The CME feeder cattle index was up 58 cents on June 26 at $146.42. Wholesale beef prices were sharply lower in the Tuesday afternoon report, with choice boxes down $4.66 at $233.91. Select was $2.40 lower, with an average of $215.26. The Ch/Se spread is now down to $18.65. Estimated FI cattle slaughter through Tuesday was 235,000 head, 4,000 above last week and 10,000 greater than last year. The showlists for the FCE auction this morning are presenting 2,554 head for sale, with 10 of the 19 lots from NE.

Cattle

Live cattle futures gave back gains from yesterday and were down $1.875 to $3.25 on Turnaround Tuesday. Feeder cattle futures were also sharply lower, down $2.075 to $4.575 in the nearby contracts. The CME feeder cattle index was up 58 cents on June 26 at $146.42. Wholesale beef prices were sharply lower in the Tuesday afternoon report, with choice boxes down $4.66 at $233.91. Select was $2.40 lower, with an average of $215.26. The Ch/Se spread is now down to $18.65. Estimated FI cattle slaughter through Tuesday was 235,000 head, 4,000 above last week and 10,000 greater than last year. With the FCE auction on Wednesday at 10:00 a.m. CST, showlists are presenting 2,554 head for sale, with 10 of the 19 lots from NE.

Jun 17 Cattle closed at $119.600, down $1.875,

Aug 17 Cattle closed at $115.025, down $3.250,

Oct 17 Cattle closed at $112.775, down $2.500,

Aug 17 Feeder Cattle closed at $144.875, down $4.575

Sep 17 Feeder Cattle closed at $144.525, down $4.375

Oct 17 Feeder Cattle closed at $142.975, down $4.225

Cattle

Live cattle futures are posting losses of $1.675 to $2.525 on Turnaround Tuesday. Feeder cattle futures are also sharply lower, down $3.60 to $3.70 in the nearby contracts. Both Live and Feeder contracts have expanded limits today. The CME feeder cattle index was down $1.25 on June 23 at $145.84. Wholesale beef prices were sharply lower in the Tuesday morning report, with choice boxes down $2.36 cents at $236.21. Select was $1.40 lower, with an average of $216.26. The Ch/Se spread is now down to $19.95. Estimated FI cattle slaughter for Monday was 117,000 head, 3,000 above last week and 6,000 greater than last year. With the FCE auction on Wednesday at 10:00 a.m. CST, they are showing 2,554 head for sale, with 10 of the 19 lots from NE.

Jun 17 Cattle are at $119.800, down $1.675,

Aug 17 Cattle are at $115.750, down $2.525,

Oct 17 Cattle are at $112.975, down $2.300,

Aug 17 Feeder Cattle are at $145.750, down $3.700

Sep 17 Feeder Cattle are at $145.175, down $3.725

Oct 17 Feeder Cattle are at $143.600, down $3.600

Cattle

Live cattle futures were $2.20 to $3.00 higher on Monday, with August limit up. Preliminary open interest showed some short covering in the June and August contracts. Feeder cattle futures posted limit gains in the three nearby contracts. Both Live and Feeder contracts will have expanded limits today. The CME feeder cattle index was down $1.25 on June 23 at $145.84. Wholesale beef prices were mixed in the Monday afternoon report, with choice boxes down $1.18 cents at $238.57. Select was 94 cents higher, with an average of $217.66. The Ch/Se spread is now down to $20.91. During the peak demand period it had been over $30. Estimated FI cattle slaughter for Monday was 117,000 head, 3,000 above last week and 6,000 greater than last year.


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