AgriCharts Market Commentary

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Cattle

Live cattle futures finished the Tuesday session with most contracts 80 cents to $1.425 higher. Feeder cattle futures were $1.65 to $2.225 higher in most contracts. The CME feeder cattle index on December 11 was down 43 cents to $153.89. Wholesale boxed beef values were mixed on Tuesday afternoon. Choice was down $1.47 at $204.06, with select 26 cents higher at $185.92. Estimated week to date FI cattle slaughter was 236,000 head through Tuesday, 3,000 head fewer than the previous week but 6,000 head larger than the same week last year. The FCE has 704 head of cattle listed for Wednesday morning’s online auction. The USDA trimmed estimated fourth quarter beef production by 95 million pounds to 6.87 million billion pounds. The 4Q figure is still the largest in at least 14 years. Production for 2018 was cut 30 million pounds to 27.59 billion pounds.

Dec 17 Cattle closed at $116.150, up $0.975,

Feb 18 Cattle closed at $119.150, up $1.425,

Apr 18 Cattle closed at $120.975, up $1.350,

Jan 18 Feeder Cattle closed at $147.100, up $1.650

Mar 18 Feeder Cattle closed at $145.300, up $1.975

Apr 18 Feeder Cattle closed at $145.325, up $1.875

Cattle

Live cattle futures are showing $1.625 to $2.40 gains on Tuesday. Feeder cattle futures are mostly $2.425 to $2.625 higher in the nearby contracts. The CME feeder cattle index on December 8 was down 8 cents to $154.32. Wholesale boxed beef values were higher on Tuesday morning. Choice was up 29 cents at $205.82, with select 32 cents higher at $185.98. Estimated week to date FI cattle slaughter was 120,000 head, 1,000 head fewer than the previous week but 6,000 head larger than the same Monday last year. The FCE has 704 head of cattle listed for Wednesday morning’s online auction. The USDA trimmed estimated fourth quarter beef production by 95 million pounds to 6.87 million billion pounds. The 4Q figure is still the largest in at least 14 years. Production for 2018 was cut 30 million pounds to 27.59 billion pounds.

Dec 17 Cattle are at $116.800, up $1.625,

Feb 18 Cattle are at $120.125, up $2.400,

Apr 18 Cattle are at $121.625, up $2.000,

Jan 18 Feeder Cattle are at $147.875, up $2.425

Mar 18 Feeder Cattle are at $145.950, up $2.625

Apr 18 Feeder Cattle are at $145.900, up $2.450

Cattle

Live cattle futures ended Monday with 5 to 62.5 cent losses in most contracts. Feeder cattle futures were mixed with nearby Jan 22.5 cents higher. The CME feeder cattle index on December 8 was down 8 cents to $154.32. Cash cattle activity consisted mainly of building show lists. Wholesale boxed beef values were lower on Monday afternoon. Choice was down 6 cents at $205.53, with select 31 cents lower at $185.66. Estimated week to date FI cattle slaughter was 120,000 head, 1,000 head fewer than the previous week but 6,000 head larger than the same Monday last year.

Cattle

Live cattle futures ended the day with 5 to 62.5 cent losses in most contracts. Feeder cattle futures were mixed with nearby Jan up 22.5 cents higher. The CME feeder cattle index on December 8 was down 8 cents to $154.32. Wholesale boxed beef values were lower on Monday afternoon. Choice was down 6 cents at $205.53, with select 31 cents lower at $185.66. Estimated week to date FI cattle slaughter was 120,000 head, 1,000 head fewer than the previous week but 6,000 head larger than the same Monday last year.

Dec 17 Cattle closed at $115.175, down $0.400,

Feb 18 Cattle closed at $117.725, down $0.575,

Apr 18 Cattle closed at $119.625, down $0.575,

Jan 18 Feeder Cattle closed at $145.450, up $0.225

Mar 18 Feeder Cattle closed at $143.325, unch,

Apr 18 Feeder Cattle closed at $143.450, down $0.200

Cattle

Live cattle futures are showing mixed trade at midday, with nearby Dec up 35 cents. Feeder cattle futures are mostly 55 to 82.5 cents higher. The CME feeder cattle index on December 7 was down 61 cents to $154.40. Wholesale boxed beef values were mixed on Monday morning. Choice was up 34 cents at $205.93, with select 14 cents lower at $185.83. Estimated weekly FI cattle slaughter was 633,000 head, 8,000 head fewer than the previous week but 25,000 head larger than the same week last year. Cash trade last week fell $3-4 to $117, as a few sales of $118 were reported earlier in the week. Spec funds in cattle futures and options lowered their net long position by 3,073 contracts to 117,010 contracts as of Tuesday.

Dec 17 Cattle are at $115.925, up $0.350,

Feb 18 Cattle are at $118.675, up $0.375,

Apr 18 Cattle are at $120.175, down $0.025,

Jan 18 Feeder Cattle are at $146.050, up $0.825

Mar 18 Feeder Cattle are at $144.125, up $0.800

Apr 18 Feeder Cattle are at $144.200, up $0.550


Market Commentary provided by:

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