Cattle Market News and Commentary

Live cattle futures closed with 5 to 40 cent gains in most contracts on Friday, as the nearby contracts were 17.5 to 40 cents lower. Feeder cattle futures were also mixed, with only April lower and most other contracts steady to $1.50 higher. The CME feeder cattle index was up $1.90 on March 20 at $140.02. Wholesale boxed beef prices were mixed on Friday afternoon. Choice boxes were down 22 cents at $229.09, as Select was 27 cents higher @ $218.64. USDA estimated this week’s FI cattle slaughter at 631,000 head through Saturday. The Cattle on Feed report showed February placements at 1.857 million head, up 2.2% yr/yr, with marketing 0.48% higher at 1.683 million head. March 1 on feed was at 11.796 million head, a jump of 0.69% from the same month last year. The Cold Storage report also released this afternoon indicated 479.28 million pounds of beef as of Feb 28, up 4.34 % from a year ago but down 6.06% from last month. Cash trade this week was around $128 in the south, with sales of $129 and up to $129.50 reported in the North. Specs in live cattle futures and options were reported at a near record CFTC net long position for cattle on Tuesday at 145,159 contracts.

Apr 19 Cattle closed at $129.725, down $0.175,

Jun 19 Cattle closed at $123.500, down $0.400,

Aug 19 Cattle closed at $120.025, up $0.050,

Mar 19 Feeder Cattle closed at $143.000, up $0.225

Apr 19 Feeder Cattle closed at $148.800, down $0.125

May 19 Feeder Cattle closed at $154.050, up $0.050

--provided by Brugler Marketing & Management




Market Commentary provided by:

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Phone: 402-697-3623
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Web: http://bruglermarketing.com

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