Live Cattle Post Gains while Feeders Fell

Live cattle futures came back down from midday triple digit gains, but still finished in the black. Feeder cattle futures however turned southward after midday gains and ended with 27 to 32 cent losses in the front months. The 12/04 CME Feeder Cattle index was $144.53 after dropping by 66 cents. Weekly beef export sales from the USDA were shown at 12,181 MT across both years, which were 54.33% lower than the week prior, but only 4.43% less than the same week last year. Wholesale boxed beef prices were again lower. Choice boxes showed a $1.35 drop, and select boxes were $2.19 lower. Monthly Census data converted to pounds put October beef shipments at 248.6 million lbs. Cash sales of $119 were reported in KS and TX today. USDA estimated the week to date FI cattle slaughter at 477,000 head through this evening, compared to the same week last year which was at 482,000.

DEC 19 Cattle closed at $119.925, up $0.475,

FEB 19 Cattle closed at $124.600, up $0.425,

APR 20 Cattle closed at $125.225, up $0.225,

JAN 19 Feeder Cattle closed at $140.550, down $0.325

MAR 19 Feeder Cattle closed at $141.150, down $0.275

APR 19 Feeder Cattle closed at $143.125, down $0.275

---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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.