AgriCharts Market Commentary

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Cattle

Live cattle futures ended the day with most contracts 72.5 cents to $1.275 higher, as April was up $2.375. Strong forward beef sales by packers are getting some attention. Feeder cattle futures were $1.275 to $2.625 higher. The CME feeder cattle index was up $1.57 on April 20 at $138.13. Wholesale boxed beef values were higher on Monday afternoon. Choice boxes were up $3.13 at $215.11, with Select boxes $1.59 higher at $201.72. Estimated FI cattle slaughter was 117,000 head on Monday. That is 1,000 more than the previous week and up 2,000 head from the same week in 2017. This afternoon’s Cold Storage report put frozen beef stocks on March 31 at 463.971 million pounds. That is just 30,000 pounds below last year and 1.01% larger than February. Combined stocks of poultry and red meat were shown at a March record 2.409 billion pounds.

Apr 18 Cattle closed at $121.725, up $2.375,

Jun 18 Cattle closed at $104.875, up $1.150,

Aug 18 Cattle closed at $105.075, up $1.275,

Apr 18 Feeder Cattle closed at $139.025, up $1.725

May 18 Feeder Cattle closed at $140.600, up $1.275

Aug 18 Feeder Cattle closed at $147.125, up $2.625

Cattle

Live cattle futures are trading 95 cents to $1.225 in the green on Monday. Strong forward beef sales by packers are getting some attention. Feeder cattle futures are up $1.375 to $2.225. The CME feeder cattle index was down 58 on April 19 at $136.56. Wholesale boxed beef values were higher on Monday morning. Choice boxes were up $2.71 at $214.69, with Select boxes $1.70 higher at $201.83. Estimated weekly FI cattle slaughter was 624,000 head. That would be 19,000 more than the previous week and up 23,000 head from the same week in 2017. The Cattle on Feed report showed April 1 on feed numbers 7.42% larger than last year at 11.729 million head. That was the largest monthly figure since 2012. Placements in March were 9.26% lower than last year at 1.921 mil head, with March marketings at 3.87% below a year ago at 1.84 mil head.

Apr 18 Cattle are at $120.300, up $0.950,

Jun 18 Cattle are at $104.950, up $1.225,

Aug 18 Cattle are at $105.025, up $1.225,

Apr 18 Feeder Cattle are at $139.350, up $2.050

May 18 Feeder Cattle are at $140.700, up $1.375

Aug 18 Feeder Cattle are at $146.725, up $2.225

Cattle

Live cattle futures finished Friday trade with most contracts 50 to 72.5 cents higher. April was up $1.55 on the day, gaining 2.4% on the week. Feeder cattle futures were steady to 90 cent in the green. April was down 1.5% this week. The CME feeder cattle index was down 58 on April 19 at $136.56. Wholesale boxed beef values were higher on Friday afternoon. Choice boxes were up 64 cents at $211.98, with Select boxes $1.65 higher at $200.13. Estimated weekly FI cattle slaughter was 624,000 head. That would be 19,000 more than the previous week and up 23,000 head from the same week in 2017. Cash traded at $121 in TX and $122 in KS on Thursday, with sales of $122-124 live and $193-195 dressed in the North on Friday. The Cattle on Feed report showed April 1 on feed numbers 7.42% larger than last year at 11.729 million head. That was the largest monthly figure since 2012. Placements in March were 9.26% lower than last year at 1.921 mil head, with March marketings at 3.87% below a year ago at 1.84 mil head.

Cattle

Live cattle futures finished Friday trade with most contracts 50 to 72.5 cents higher. April was up $1.55 on the day, gaining 2.4% on the week. Feeder cattle futures were steady to 90 cent in the green. April was down 1.5% this week. The CME feeder cattle index was down 58 on April 19 at $136.56. Wholesale boxed beef values were higher on Friday afternoon. Choice boxes were up 64 cents at $211.98, with Select boxes $1.65 higher at $200.13. Estimated weekly FI cattle slaughter is at 624,000 head through Saturday. That would be 19,000 more than the previous week and up 23,000 head from the same week in 2017. Cash traded at $121 in TX and $122 in KS on Thursday, with sales of $122-124 live and $193-195 dressed in the North today. This afternoon’s Cattle on Feed report showed April 1 on feed numbers 7.42% larger than last year at 11.729 million head. Placements in March were 9.26% lower than last year at 1.921 mil head, with March marketings at 3.87% below a year ago at 1.84 mil head.

Apr 18 Cattle closed at $119.350, up $1.550,

Jun 18 Cattle closed at $103.725, up $0.725,

Aug 18 Cattle closed at $103.800, up $0.675,

Apr 18 Feeder Cattle closed at $137.300, up $0.075

May 18 Feeder Cattle closed at $139.325, up $0.900

Aug 18 Feeder Cattle closed at $144.500, up $0.800

Cattle

Live cattle futures are mixed at midday, with nearby April up $1 on steady-higher cash trade. Feeder cattle futures are also mixed with May up 20 cents and other contracts lower. The CME feeder cattle index was down 78 cents on April 18 at $137.12. Wholesale boxed beef values were higher on Friday morning. Choice boxes were 21 cents lower at $211.55, with Select boxes up $1.33 at $199.81. Estimated week to date FI cattle slaughter was 470,000 head through Thursday. That is 5,000 below the previous week but up 13,000 head from the same week in 2017. Cash traded at $121 in TX and $122 in KS on Thursday, with sales of $193-195 in NE this morning.

Apr 18 Cattle are at $118.800, up $1.000,

Jun 18 Cattle are at $102.975, down $0.025,

Aug 18 Cattle are at $102.925, down $0.200,

Apr 18 Feeder Cattle are at $137.000, down $0.225

May 18 Feeder Cattle are at $138.625, up $0.200

Aug 18 Feeder Cattle are at $143.250, down $0.450


Market Commentary provided by:

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