Cattle

Live cattle futures are steady to 50 cents in the red at the moment. Feeder cattle futures are mixed, with nearby Aug up 45 cents and back months lower. The CME feeder cattle index was down 11 cents from the previous day on 8/8, reaching $150.45. Wholesale boxed beef values were higher on Friday morning. Choice boxes were up 24 cents at $206.30, while Select boxes were 28 cents higher at $198.37. Weekly FI cattle slaughter was estimated at 472,000 head through Thursday. That is up 5,000 head from the previous week and 9,000 head above the same week in 2017. A few cash cattle sales of $110-111.50 live and $178-179 were reported in the North on Thursday. USDA’s projection for 2018 beef production was trimmed by 56 million pounds to 27.094 billion, with 2019 increased 30 million from July to 27.720 billion pounds.

Aug 18 Cattle are at $107.975, down $0.275,

Oct 18 Cattle are at $109.025, down $0.025,

Dec 18 Cattle are at $112.900, down $0.075,

Aug 18 Feeder Cattle are at $149.800, up $0.450

Sep 18 Feeder Cattle are at $148.975, down $0.050

Oct 18 Feeder Cattle are at $148.925, down $0.275




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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