AgriCharts Market Commentary

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Cattle Close with Triple Digit Gains

Live cattle futures posted $1.275 to $1.35 gains in the nearby contracts on Tuesday. Feeder cattle futures were up $1.875 to $3.10 on the day, helped by losses in corn. The CME Feeder Cattle Index was up $1.03 on September 16 at $137.12. Wholesale boxed beef prices were lower on Tuesday afternoon. Choice boxes were down 85 cents at $219.77, with Select boxes $2.66 lower @ $193.91. USDA estimated this week’s FI cattle slaughter @ 235,000 head. That is up 3,000 head from the same week last year and a 4,000 jump from the previous week. A total of 1,229 head are consigned on this week’s FCE auction set for Wednesday morning, better volume than we’ve seen for a while. Analysts on average expect NASS to show September on feed numbers down 0.7% from a year ago at 11.05 million head. The COF report will be released on Friday.

OCT 19 Cattle closed at $99.350, up $1.35,

DEC 19 Cattle closed at $105.300, up $1.275,

FEB 20 Cattle closed at $111.775, up $1.325,

SEP 19 Feeder Cattle closed at $139.175, up $2.625,

OCT 19 Feeder Cattle closed at $137.300, up $3.10,

NOV 19 Feeder Cattle closed at $135.050, up $1.875,

-- provided by Brugler Marketing & Management

Cattle Triple Digits Higher at Midday

Live cattle futures are up $1.625 to $1.775 in the front months. Feeder cattle futures are trading $3 to $4 higher at midday. The CME Feeder Cattle Index was UNCH on September 13 at $136.09. Wholesale boxed beef prices were higher on Tuesday morning. Choice boxes were up $1.39 at $222.01, with Select boxes 42 cents higher @ $196.99. USDA estimated Monday’s FI cattle slaughter @ 117,000 head. That is up 4,000 head from the same day last year and a 2,000 jump from the previous Monday. A total of 1,229 head are consigned on this week’s FCE auction set for Wednesday morning, better volume than we’ve seen for a while.

OCT 19 Cattle are at $99.625, up $1.625,

DEC 19 Cattle are at $105.650, up $1.625,

FEB 20 Cattle are at $112.225, up $1.775,

SEP 19 Feeder Cattle are at $139.650, up $3.100

OCT 19 Feeder Cattle are at $138.200, up $4.000

NOV 19 Feeder Cattle are at $136.175, up $3.000

-- provided by Brugler Marketing & Management

Cattle Market Weaker on Higher Harvest and Product Weakness

Live cattle futures posted 7.5 to 65 cent losses in the front months. Feeder cattle futures were down 35 to 85 cents in most contracts, with nearby Sep up a nickel. The CME Feeder Cattle Index was UNCH on September 13 at $136.09. Wholesale boxed beef prices were lower on Monday afternoon. Choice boxes were down 26 cents at $220.62, with Select boxes down a sharp $2.03 @ $196.57. USDA estimated Monday’s FI cattle slaughter @ 117,000 head. That is up 4,000 head from the same day last year and a 2,000 jump from the previous Monday.

-- provided by Brugler Marketing & Management

Cattle Mostly Lower on Monday

Live cattle futures posted 7.5 to 65 cent losses in the front months. Feeder cattle futures were down 35 to 85 cents in most contracts, with nearby Sep up a nickel. The CME Feeder Cattle Index unch on September 13 at $136.09. Wholesale boxed beef prices were lower on Monday afternoon. Choice boxes were down 26 cents at $220.62, with Select boxes down a sharp $2.03 @ $196.57. USDA estimated Monday’s FI cattle slaughter @ 117,000 head. That is up 4,000 head from the same day last year and a 2,000 jump from the previous Monday.

OCT 19 Cattle closed at $98.000, down $0.075,

DEC 19 Cattle closed at $104.025, down $0.350,

FEB 20 Cattle closed at $110.450, down $0.650,

SEP 19 Feeder Cattle closed at $136.550, up $0.050

OCT 19 Feeder Cattle closed at $134.200, down $0.375

NOV 19 Feeder Cattle closed at $133.175, down $0.850

-- provided by Brugler Marketing & Management

Cattle Lower on Monday

Live cattle futures are down 20 to 70 cents in the front months on Monday. Feeder cattle futures are showing 35 to $1.425 gains at midday. The CME Feeder Cattle Index was 56 cents lower on September 12 at $136.09. Wholesale boxed beef prices were mixed on Monday morning. Choice boxes were up 28 cents at $221.16, with Select boxes down a sharp $2.65 @ $195.95. USDA estimated weekly FI cattle slaughter @ 629,000 through Saturday. That is down 27,000 head from the same week a year ago. Cash trade was reported at $100 in the South and $100-101 in NE on Friday. Commitment of Traders data showed spec funds in live cattle futures and options net short for the first time on record at -6,232 contracts. They also held a record net short position in feeder cattle futures and options at -7,214 contracts on September 10.

OCT 19 Cattle are at $97.875, down $0.200,

DEC 19 Cattle are at $103.950, down $0.425,

FEB 20 Cattle are at $110.600, down $0.500,

SEP 19 Feeder Cattle are at $136.050, down $0.450

OCT 19 Feeder Cattle are at $133.675, down $0.900

NOV 19 Feeder Cattle are at $132.800, down $1.225

-- 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