AgriCharts Market Commentary

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Cattle

Live cattle futures ended the Thursday session mixed, with nearby Aug a nickel lower and back months higher. Feeder cattle futures were steady to 20 cents higher in the nearby contracts. The CME feeder cattle index was down 28 cents from the previous day at $148.31 on 7/18. Wholesale boxed beef values were lower on Thursday afternoon. Choice boxes were down 31 cents to $204.49, while Select boxes were 17 cents lower at $196.92. Estimated week to date FI cattle slaughter was 476,000 head through Thursday. That was up 11,000 from the same week last year but down 3,000 head vs. last week. Analysts are expecting to see a 1% increase from last year in all cattle and calves as of July 1. They also estimated that Friday’s Cattle inventory report will show beef cows up 0.9% from 2017’s mid-year report, with replacement heifers down 4.3%. Export sales of 13,518 MT of beef in the week of July 12 were shown by the USDA this morning. Weekly shipments were hit a marketing year high of 19,561 MT. Cash cattle bids were seen at $108 today, despite a couple small confirmed sales @ $112 on Wednesday’s FCE.

Aug 18 Cattle closed at $108.900, down $0.050,

Oct 18 Cattle closed at $110.650, unch,

Dec 18 Cattle closed at $114.425, up $0.225,

Aug 18 Feeder Cattle closed at $154.450, unch,

Sep 18 Feeder Cattle closed at $154.775, up $0.125

Oct 18 Feeder Cattle closed at $154.925, up $0.200

Cattle

Live cattle futures are showing mixed trade at midday, with nearby Aug 2.5 cents higher. Feeder cattle futures are steady to 50 cents lower on Thursday. The CME feeder cattle index was up 22 cents from the previous day at $148.59 on 7/17. Wholesale boxed beef values were higher again on Thursday morning. Choice boxes were up 21 cents to $205.01, while Select boxes were 27 cents higher at $197.36. Estimated FI cattle slaughter was 355,000 head through Wednesday. That was up 12,000 from the same week last year but down 4,000 head vs. last week. Analysts are expecting to see a 1% increase from last year in all cattle and calves as of July 1. They also estimated that Friday’s Cattle inventory report will show beef cows up 0.9% from 2017’s mid-year report, with replacement heifers down 4.3%. Export sales of 13,518 MT of beef in the week of July 12 were shown by the USDA this morning. Bids are currently being seen at $108 this morning, despite sales of $112 on Wednesday’s FCE.

Aug 18 Cattle are at $108.975, up $0.025,

Oct 18 Cattle are at $110.550, down $0.100,

Dec 18 Cattle are at $114.450, up $0.250,

Aug 18 Feeder Cattle are at $154.400, down $0.050

Sep 18 Feeder Cattle are at $154.625, down $0.025

Oct 18 Feeder Cattle are at $154.725, unch,

Cattle

Live cattle futures settled with most contracts $1.50 to $2.525 higher on Wednesday. Feeder cattle futures were also sharply higher, up $2.70 to $3.175 in the nearby contracts. The CME feeder cattle index was up 22 cents from the previous day at $148.59 on 7/17. Wholesale boxed beef values were higher on Wednesday afternoon. Choice boxes were up 41 cents to $204.80, while Select boxes were 23 cents higher at $197.09. Estimated FI cattle slaughter was 355,000 head through Wednesday. That was up 12,000 from the same week last year but down 4,000 head vs. last week. A Reuters poll of analysts shows estimates for July 1 cattle on feed at 11.257 million head, up 4% from last year. Wednesday’s Fed Cattle Exchange saw sales on 142 of the 428 head offered at $112. There was also a lot that passed on an offer of $111.

Cattle

Live cattle futures settled with most contracts $1.50 to $2.525 higher on Wednesday. Feeder cattle futures were also sharply higher, up $2.70 to $3.175 in the nearby contracts. The CME feeder cattle index was up 22 cents from the previous day at $148.59 on 7/17. Wholesale boxed beef values were higher on Wednesday afternoon. Choice boxes were up 41 cents to $204.80, while Select boxes were 23 cents higher at $197.09. Estimated FI cattle slaughter was 355,000 head through Wednesday. That was up 12,000 from the same week last year but down 4,000 head vs. last week. A Reuters poll of analysts shows estimates for July 1 cattle on feed at 11.257 million head, up 4% from last year. Wednesday’s Fed Cattle Exchange saw sales on 142 of the 428 head offered at $112. There was also a lot that passed on an offer of $111.

Aug 18 Cattle closed at $108.950, up $2.525,

Oct 18 Cattle closed at $110.650, up $2.150,

Dec 18 Cattle closed at $114.200, up $1.575,

Aug 18 Feeder Cattle closed at $154.450, up $3.175

Sep 18 Feeder Cattle closed at $154.650, up $2.950

Oct 18 Feeder Cattle closed at $154.725, up $2.725

Cattle

Live cattle futures are showing sharp triple digit gains on Wednesday. Feeder cattle futures also sharply higher, with nearby Aug up $3.025. The CME feeder cattle index was up 10 cents from the previous day at $148.37 on 7/16. Wholesale boxed beef values were higher on Wednesday morning. Choice boxes were up 26 cents to $204.65, while Select boxes were 28 cents higher at $197.14. Estimated FI cattle slaughter was 236,000 head through Tuesday. That was up 10,000 from the same week last year but down 3,000 head vs. last week on revised Monday slaughter. A Reuters poll of analysts shows estimates for July 1 cattle on feed at 11.257 million head, up 4% from last year. Wednesday’s Fed Cattle Exchange saw sales on 142 of the 428 head offered at $112. There was also a lot that passed on an offer of $111.

Aug 18 Cattle are at $108.600, up $2.175,

Oct 18 Cattle are at $110.325, up $1.825,

Dec 18 Cattle are at $114.000, up $1.375,

Aug 18 Feeder Cattle are at $154.300, up $3.025

Sep 18 Feeder Cattle are at $154.550, up $2.850

Oct 18 Feeder Cattle are at $154.500, up $2.500


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
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