AgriCharts Market Commentary

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Cattle Lower on Monday

Live cattle futures are down 50 to 85 cents in most contracts on Monday. Feeder cattle futures are down 20 to 60 cents at midday. The CME feeder cattle index was up another $1.49 @ $141.08 on July 11. Wholesale boxed beef prices were mixed on Monday morning. Choice boxes were up 68 cents at $213.48 with Select boxes 13 cents lower @ $189.47. USDA estimated week to date FI cattle slaughter at 655,000 head through Saturday. That was 5,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $113.5-115 live in the North last week, with the South showing widespread trade of $112 on Friday.

AUG 19 Cattle are at $107.975, down $0.500,

OCT 19 Cattle are at $109.125, down $0.850,

DEC 19 Cattle are at $113.600, down $0.625,

AUG 19 Feeder Cattle are at $141.025, down $0.575

SEP 19 Feeder Cattle are at $141.950, down $0.600

OCT 19 Feeder Cattle are at $142.325, down $0.525

--provided by Brugler Marketing & Management

Cattle Market Supported by $112 Cash Trade

Live cattle futures were 25 to 65 cents higher in most contracts on Friday. Feeder cattle futures were weighed down by strength in corn and settled 57.5 cents to $1.025 lower. August feeders were still 2% higher this week. The CME feeder cattle index was up another $1.49 @ $141.08 on July 11. Wholesale boxed beef prices were lower on Friday afternoon. Choice boxes were down 97 cents at $212.80 with Select boxes $1.19 lower @ $189.60. USDA estimated week to date FI cattle slaughter at 655,000 head through Saturday. That was 5,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $113.5-115 live in the North this week, with the South showing widespread trade of $112 on Friday.

--provided by Brugler Marketing & Management

Live Cattle Strengthens, Feeders Weaker on Friday

Live cattle futures were 25 to 65 cents higher in most contracts on Friday. Feeder cattle futures were weighted down by strength in corn, 57.5 cents to $1.025 lower. August feeders were still 2% higher this week. The CME feeder cattle index was up another $1.49 @ $141.08 on July 11. Wholesale boxed beef prices were lower on Friday afternoon. Choice boxes were down 97 cents at $212.80 with Select boxes $1.19 lower @ $189.60. USDA estimated week to date FI cattle slaughter at 655,000 head through Saturday. That was 5,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $113.5-115 live in the North this week, with the South showing trade of $112 on Friday.

AUG 19 Cattle closed at $108.475, up $0.600,

OCT 19 Cattle closed at $109.975, up $0.650,

DEC 19 Cattle closed at $114.225, up $0.450,

AUG 19 Feeder Cattle closed at $141.600, down $1.025

SEP 19 Feeder Cattle closed at $142.550, down $0.725

OCT 19 Feeder Cattle closed at $142.850, down $0.575

--provided by Brugler Marketing & Management

Live Cattle Higher, Feeders Lower

Live cattle futures are up 45 to 75 cents in most contracts on Friday. Feeder cattle futures are down 75 cents to $1.30, with pressure from strength in corn. The CME feeder cattle index was up $3.50 @ $139.32 on July 10. Wholesale boxed beef prices were mixed on Friday morning. Choice boxes were up 11 cents at $213.88 with Select boxes 17 cents lower @ $190.62. USDA estimated week to date FI cattle slaughter at 478,000 head. That was 2,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $114-115 live in the North on Thursday, with the South yet to show much action this week.

AUG 19 Cattle are at $108.500, up $0.625,

OCT 19 Cattle are at $109.925, up $0.600,

DEC 19 Cattle are at $114.225, up $0.450,

AUG 19 Feeder Cattle are at $141.600, down $1.025

SEP 19 Feeder Cattle are at $142.375, down $0.900

OCT 19 Feeder Cattle are at $142.675, down $0.750

--provided by Brugler Marketing & Management

Cattle Futures Firm Following Cut in Estimated Production

Live cattle futures closed Thursday with most contracts firm to 35 cents higher. Feeder cattle futures were up 27.5 to 60 cents higher. The CME feeder cattle index was up $3.50 @ $139.32 on July 10. Wholesale boxed beef prices were slightly lower again on Thursday afternoon. Choice boxes were down 65 cents at $213.77 with Select boxes 10 cents lower @ $190.79. USDA estimated week to date FI cattle slaughter at 478,000 head. That was 2,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $114-115 live in the North on Thursday. Beef export sales for the July 4 week were 21,458 MT, with Shipments of 14,912 MT. USDA showed a 75 million lb reduction to 2019 US beef production to 27.129 billion lbs, with most of that loss in the 3rd and 4th quarters. Production for 2020 was left UNCH at 27.42 billion lbs.

--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