AgriCharts Market Commentary

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Cattle Market News and Commentary

Live cattle futures settled with 60 cent to $2.375 losses on Monday in follow up to the Cattle on Feed report. Open interest in cattle hit a new record high at the end of last week. Preliminary OI data for Monday shows long liquidation, with OI dropping 3,306 contracts. Feeder cattle futures were down 82.5 cents to $3.35 on the day. The CME feeder cattle index was up 78 cents on March 22 at $141.80. Wholesale boxed beef prices were mixed on Monday afternoon. Choice boxes were down 9 cents at $229.00, as Select was 9 cents higher @ $218.73. USDA estimated FI cattle slaughter at 119,000 head for Monday, up 4,000 head from Monday and same day last year. Last week, cattle traded $128 in the south, with sales of $129 and up to $129.50 reported in the North.

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

Live cattle futures settled with 60 cent to $2.375 losses on Monday in follow up to the Cattle on Feed report. Feeder cattle futures were down 82.5 cents to $3.35 on the day. The CME feeder cattle index was up 78 cents on March 22 at $141.80. Wholesale boxed beef prices were mixed on Monday afternoon. Choice boxes were down 9 cents at $229.00, as Select was 9 cents higher @ $218.73. USDA estimated FI cattle slaughter at 119,000 head for Monday, up 4,000 head from Monday and same day last year. Last week, cattle traded $128 in the south, with sales of $129 and up to $129.50 reported in the North.

Apr 19 Cattle closed at $127.575, down $2.150,

Jun 19 Cattle closed at $121.125, down $2.375,

Aug 19 Cattle closed at $117.975, down $2.050,

Mar 19 Feeder Cattle closed at $142.175, down $0.825

Apr 19 Feeder Cattle closed at $146.200, down $2.600

May 19 Feeder Cattle closed at $150.700, down $3.350

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

Live cattle futures are down 40 cents to $1.325 in follow up to the Cattle on Feed report. Feeder cattle futures are trading 25 cents to $1.05 lower at midday. The CME feeder cattle index was up $1.90 on March 21 at $141.02. Wholesale boxed beef prices were mixed on Monday morning. Choice boxes were down 27 cents at $228.82, as Select was 69 cents higher @ $219.33. USDA weekly FI cattle slaughter was 631,000 head. The Cattle on Feed report showed March 1 on Feed was 11.796 million head, a rise of 0.69% from the same month last year. The Cold Storage report on Friday indicated 479.28 million pounds of beef as of Feb 28, up 4.34% from a year ago but down 6.06% from last month. Cash trade cattle traded $128 in the south, with sales of $129 and up to $129.50 reported in the North.

Apr 19 Cattle are at $128.475, down $1.250,

Jun 19 Cattle are at $122.175, down $1.325,

Aug 19 Cattle are at $118.800, down $1.225,

Mar 19 Feeder Cattle are at $142.750, down $0.250

Apr 19 Feeder Cattle are at $147.750, down $1.050

May 19 Feeder Cattle are at $153.000, down $1.050

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

Live cattle futures closed with 5 to 40 cent gains in most contracts on Friday, although the nearby contracts were 17.5 to 40 cents lower. Feeder cattle futures were also mixed, with only April lower and most other contracts steady to $1.50 higher. The CME feeder cattle index was up $1.90 on March 20 at $140.02. Wholesale boxed beef prices were mixed on Friday afternoon. Choice boxes were down 22 cents at $229.09, as Select was 27 cents higher @ $218.64. USDA weekly FI cattle slaughter was 631,000 head. The Cattle on Feed report showed February placements at 1.857 million head, up 2.2% yr/yr, with marketing 0.48% higher at 1.683 million head. March 1 on Feed was 11.796 million head, a jump of 0.69% from the same month last year. The Cold Storage report indicated 479.28 million pounds of beef as of Feb 28, up 4.34 % from a year ago but down 6.06% from last month. Cash trade cattle traded $128 in the south, with sales of $129 and up to $129.50 reported in the North. Spec funds held their largest CFTC net long position for cattle since 2010 on Tuesday at 145,159 contracts.

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

Live cattle futures closed with 5 to 40 cent gains in most contracts on Friday, as the nearby contracts were 17.5 to 40 cents lower. Feeder cattle futures were also mixed, with only April lower and most other contracts steady to $1.50 higher. The CME feeder cattle index was up $1.90 on March 20 at $140.02. Wholesale boxed beef prices were mixed on Friday afternoon. Choice boxes were down 22 cents at $229.09, as Select was 27 cents higher @ $218.64. USDA estimated this week’s FI cattle slaughter at 631,000 head through Saturday. The Cattle on Feed report showed February placements at 1.857 million head, up 2.2% yr/yr, with marketing 0.48% higher at 1.683 million head. March 1 on feed was at 11.796 million head, a jump of 0.69% from the same month last year. The Cold Storage report also released this afternoon indicated 479.28 million pounds of beef as of Feb 28, up 4.34 % from a year ago but down 6.06% from last month. Cash trade this week was around $128 in the south, with sales of $129 and up to $129.50 reported in the North. Specs in live cattle futures and options were reported at a near record CFTC net long position for cattle on Tuesday at 145,159 contracts.

Apr 19 Cattle closed at $129.725, down $0.175,

Jun 19 Cattle closed at $123.500, down $0.400,

Aug 19 Cattle closed at $120.025, up $0.050,

Mar 19 Feeder Cattle closed at $143.000, up $0.225

Apr 19 Feeder Cattle closed at $148.800, down $0.125

May 19 Feeder Cattle closed at $154.050, up $0.050

--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