AgriCharts Market Commentary

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Cattle Higher as Japan Eases Restrictions

Live cattle futures posted 80 cent to $180 gains in most contracts on Friday. A USDA announcement shows that Japan has agreed to lift the 30-month age restriction on beef imports from the US that was implemented originally as a 20-month following the BSE outbreak in 2003. Feeder cattle futures were 30 cents higher in nearby May, with other contracts $2 to $2.625 higher. The CME feeder cattle index was down 30 cents to $132.76 on May 16. Wholesale boxed beef prices were higher on Friday afternoon. Choice boxes were up 75 cents at $220.31 with Select boxes 40 cents higher @ $208.28. USDA estimated weekly FI cattle slaughter at 660,000 head through Saturday. That was down 11,000 head from the previous week and 8,000 below the same week last year. Cash sales have been reported at ~$117 this week, with a few down to $115 reported by USDA. Money managers in live cattle futures and options were shown to liquidate 17,405 contracts from their CFTC net long position on Tuesday at 87,296 contracts.

Jun 19 Cattle closed at $111.275, up $0.800,

Aug 19 Cattle closed at $108.925, up $0.975,

Oct 19 Cattle closed at $108.900, up $1.000,

May 19 Feeder Cattle closed at $134.525, up $0.300

Aug 19 Feeder Cattle closed at $145.500, up $2.175

Sep 19 Feeder Cattle closed at $146.700, up $2.475

--provided by Brugler Marketing & Management

Cattle Higher as Japan Eases Restrictions

Live cattle futures are up 27.5 cents to $1.05 at midday. A USDA announcement shows that Japan has agreed to lift the 30-month age restriction on beef imports from the US that was implemented originally as a 20-month following the BSE outbreak in 2003. Feeder cattle futures are 25 cents to $2.0125 higher. The CME feeder cattle index was down $1.75 to $133.06 on May 15. Wholesale boxed beef prices were higher on Friday morning. Choice boxes were up 15 cents at $219.71 with Select boxes 17 cents higher @ $208.05. USDA estimated weekly FI cattle slaughter at 484,000 head through Thursday. That was up 3,000 head from the previous week and 5,000 above the same week last year. Cash sales have been reported at ~$117 this week, with a few down to $115 reported by USDA.

Jun 19 Cattle are at $110.750, up $0.275,

Aug 19 Cattle are at $108.625, up $0.675,

Oct 19 Cattle are at $108.575, up $0.675,

May 19 Feeder Cattle are at $134.475, up $0.250

Aug 19 Feeder Cattle are at $144.775, up $1.450

Sep 19 Feeder Cattle are at $145.950, up $1.725

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

Live cattle futures ended the Thursday session with most contracts 80 cents to $1.45 higher. Feeder cattle futures came off their lows to post 87.5 cent to $1.30 gains, with nearby May down $1.70. The CME feeder cattle index was down $1.75 to $133.06 on May 15. Wholesale boxed beef prices were lower on Thursday afternoon. Choice boxes were down a penny at $219.56 with Select boxes 16 cents lower @ $207.88. USDA estimated weekly FI cattle slaughter at 484,000 head through Thursday. That was up 3,000 head from the previous week and 5,000 above the same week last year. Cash sales have been reported at ~$117 this week. Weekly beef export sales at 16,941 MT were down from last week but up 54.54% from the same week in 2018. Shipments were the second largest of 2019 at 18,225 MT.

--provided by Brugler Marketing & Management

Cattle Mixed on Thursday

Live cattle futures are steady to 70 cents higher at midday. Feeder cattle futures are marginally mixed, with nearby May down $2.425. The CME feeder cattle index was down 30 cents to $134.77 on May 14. Wholesale boxed beef prices were lower on Thursday morning. Choice boxes were down 9 cents at $219.48 with Select boxes 3 cents lower @ $208.01. USDA estimated weekly FI cattle slaughter at 363,000 head through Wednesday. That was up 1,000 head from the previous week and 6,000 above the same week last year. Cash sales have been reported at ~$117 this week. Weekly beef export sales were reported at 16,941 MT, down from last week but up 54.54% from the same week in 2018. Shipments were reported at 18,225 MT, the second largest this MY.

Jun 19 Cattle are at $109.700, up $0.025,

Aug 19 Cattle are at $107.275, up $0.300,

Oct 19 Cattle are at $107.150, up $0.400,

May 19 Feeder Cattle are at $133.500, down $2.425

Aug 19 Feeder Cattle are at $141.925, down $0.350

Sep 19 Feeder Cattle are at $142.875, down $0.350

--provided by Brugler Marketing & Management

Cattle Market Sees Weaker Cash Trade

Live cattle futures saw marginal gains in most contracts on Wednesday. Feeder cattle futures were down 7.5 to 60 cents in most contracts. The CME feeder cattle index was down 30 cents to $134.77 on May 14. Wholesale boxed beef prices were lower on Wednesday afternoon. Choice boxes were down 55 cents at $219.57 with Select boxes 93 cents lower @ $208.04. USDA estimated weekly FI cattle slaughter at 363,000 head through Wednesday. That was up 1,000 head from the previous week and 6,000 above the same week last year. Wednesday’s FCE online auction saw sales on 280 of the 376 head at $117. Most other cash sales around the country were also $117. --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