Triple Digit Fallback in Cattle Market

Feeder cattle futures ended the Thursday session with losses of $2.50 to $2.77 in the front months. Jan feeder futures were down by $1.15, and with only a week left before expiration, the futures are below the index. The 01/22 CME Feeder Cattle index was down 31 cents to $144.86. Live cattle were also down by triple digits at the closing bell on Thursday as futures fell by $1.50 to $2.60 in the nearbys. Afternoon boxed beef prices were mixed, widening the Chc/Sel spread to $4.12. Choice boxes were at $215.32 following a 36 cent increase, while Select boxes were down 82 cents to $211.20. Cash sales this week, were $124.00 in NE, and $125 today in the WCB according to USDA reports. Average estimates of the CoF report have traders anticipating Jan 1 cattle on feed at 11.948 million head, up about 2%. Placements in December are estimated at 1.828 million head, which would be 3.4% higher. The average trade estimate is to see a 5.2% increase yr/yr in December marketings. USDA’s estimate for weekly FI cattle slaughter through Thursday was 490,000 head, which is 2,000 head more than last week.

Feb 20 Cattle closed at $124.675, down $1.500,

Apr 20 Cattle closed at $124.175, down $2.600,

Jun 20 Cattle closed at $116.325, down $2.125,

Jan 20 Feeder Cattle closed at $142.775, down $1.150

Mar 20 Feeder Cattle closed at $140.525, down $2.525

Apr 20 Feeder Cattle closed at $143.475, down $2.550

---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.