AgriCharts Market Commentary

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Cattle Close Higher on Wednesday

Live cattle futures posted 35 cent to $1.025 gains in most contracts on Wednesday. Feeder cattle futures were up a quarter to $1.25 on the day. The CME Feeder Cattle Index was up 21 cents on September 17 at $137.33. Wholesale boxed beef prices were lower on Wednesday afternoon, with the Chc/Sel spread widening out to $26.27. Choice boxes were down $1.53 at $218.24, with Select boxes $1.94 lower @ $191.97. USDA estimated week to date FI cattle slaughter @ 351,000 head. That is down 1,000 head from the same week last year and a 3,000 rise from the previous week. Wednesday morning’s FCE saw 281 head of the 1,229 offered in sales at $101 in KS and $101.25. Trade estimates for Friday’s COF report are for August placements to be down 6.3% from last year at 1.94 million head. Marketings are seen 1.7% lower at 1.95 million head.

OCT 19 Cattle closed at $100.375, up $1.025,

DEC 19 Cattle closed at $106.150, up $0.850,

FEB 20 Cattle closed at $112.375, up $0.600,

SEP 19 Feeder Cattle closed at $139.875, up $0.700

OCT 19 Feeder Cattle closed at $138.400, up $1.100

NOV 19 Feeder Cattle closed at $136.300, up $1.250

-- provided by Brugler Marketing & Management

Cattle Mixed at Midday

Live cattle futures are showing 25 to 57.5 cent gains at midday. Feeder cattle futures are steady to 95 cents higher on Wednesday. The CME Feeder Cattle Index was up $1.03 on September 16 at $137.12. Wholesale boxed beef prices were lower on Tuesday afternoon, with the Chc/Sel spread widening out to $26.81. Choice boxes were down $1.21 at $218.56, with Select boxes $2.16 lower @ $191.75. USDA estimated week to date FI cattle slaughter @ 235,000 head. That is up 3,000 head from the same week last year and a 4,000 jump from the previous week. Wednesday morning’s FCE saw 281 head of the 1,229 offered in sales at $101 in KS and $101.25. Trade estimates for Friday’s COF report are for August placements to be down 6.3% from last year at 1.94 million head. Marketings are seen 1.7% lower at 1.95 million head.

OCT 19 Cattle are at $99.925, up $0.575,

DEC 19 Cattle are at $105.550, up $0.250,

FEB 20 Cattle are at $111.700, down $0.075,

SEP 19 Feeder Cattle are at $139.200, up $0.025

OCT 19 Feeder Cattle are at $137.850, up $0.550

NOV 19 Feeder Cattle are at $136.000, up $0.950

-- provided by Brugler Marketing & Management

Cattle Market Rebounds Ahead of Friday COF

Live cattle futures posted $1.275 to $1.35 gains in the nearby contracts on Tuesday. Feeder cattle futures were up $1.875 to $3.10 on the day, helped by losses in corn. The CME Feeder Cattle Index was up $1.03 on September 16 at $137.12. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down 85 cents at $219.77, with Select boxes $2.66 lower @ $193.91. USDA estimated week to date FI cattle slaughter @ 235,000 head. That is up 3,000 head from the same week last year and a 4,000 jump from the previous week. A total of 1,229 head are consigned on this morning’s FCE auction, better volume than we’ve seen for a while. Analysts on average expect NASS to show September on feed numbers down 0.7% from a year ago at 11.05 million head. The COF report will be released on Friday. -- provided by Brugler Marketing & Management

Cattle Close with Triple Digit Gains

Live cattle futures posted $1.275 to $1.35 gains in the nearby contracts on Tuesday. Feeder cattle futures were up $1.875 to $3.10 on the day, helped by losses in corn. The CME Feeder Cattle Index was up $1.03 on September 16 at $137.12. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down 85 cents at $219.77, with Select boxes $2.66 lower @ $193.91. USDA estimated this week’s FI cattle slaughter @ 235,000 head. That is up 3,000 head from the same week last year and a 4,000 jump from the previous week. A total of 1,229 head are consigned on this week’s FCE auction set for Wednesday morning, better volume than we’ve seen for a while. Analysts on average expect NASS to show September on feed numbers down 0.7% from a year ago at 11.05 million head. The COF report will be released on Friday.

OCT 19 Cattle closed at $99.350, up $1.35,

DEC 19 Cattle closed at $105.300, up $1.275,

FEB 20 Cattle closed at $111.775, up $1.325,

SEP 19 Feeder Cattle closed at $139.175, up $2.625,

OCT 19 Feeder Cattle closed at $137.300, up $3.10,

NOV 19 Feeder Cattle closed at $135.050, up $1.875,

-- provided by Brugler Marketing & Management

Cattle Triple Digits Higher at Midday

Live cattle futures are up $1.625 to $1.775 in the front months. Feeder cattle futures are trading $3 to $4 higher at midday. The CME Feeder Cattle Index was UNCH on September 13 at $136.09. Wholesale boxed beef prices were higher on Tuesday morning. Choice boxes were up $1.39 at $222.01, with Select boxes 42 cents higher @ $196.99. USDA estimated Monday’s FI cattle slaughter @ 117,000 head. That is up 4,000 head from the same day last year and a 2,000 jump from the previous Monday. A total of 1,229 head are consigned on this week’s FCE auction set for Wednesday morning, better volume than we’ve seen for a while.

OCT 19 Cattle are at $99.625, up $1.625,

DEC 19 Cattle are at $105.650, up $1.625,

FEB 20 Cattle are at $112.225, up $1.775,

SEP 19 Feeder Cattle are at $139.650, up $3.100

OCT 19 Feeder Cattle are at $138.200, up $4.000

NOV 19 Feeder Cattle are at $136.175, up $3.000

-- provided by Brugler Marketing & Management


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