Cattle

Live cattle futures settled Friday with most contracts 62.5 cents to $1. Feeder cattle futures were 52.5 cents to $1.375. The CME feeder cattle index was $1.97 lower than the previous day at $145.96. Wholesale beef prices were lower in the Friday afternoon report, with choice down $1.03 at $199.60 and select boxes 7 cents lower at $196.12. The CH/SE spreads has now narrowed to $3.48. This is the first time Choice has been reported below $200 since February 24. Weekly FI cattle slaughter is estimated at 641,000 head through Saturday, 7,000 more than last week and 62,000 larger than the same week last year. Cash trade was mostly $115-116 this week. As of Tuesday, managed money continued to show a slow liquidation of their net long position, as it fell 7,758 contracts to a net position of +94,768 contracts in live cattle futures and options.

Aug 17 Cattle closed at $109.725, up $0.875,

Oct 17 Cattle closed at $107.400, up $0.800,

Dec 17 Cattle closed at $109.325, up $0.725,

Aug 17 Feeder Cattle closed at $141.775, up $0.600

Sep 17 Feeder Cattle closed at $142.225, up $0.925

Oct 17 Feeder Cattle closed at $141.600, up $1.125




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

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