Cattle Market Called Lower Following USDA COF Report
BRUG - Mon Apr 22, 7:31AM CDT

Live cattle futures saw a $1.60 pop in nearby April futures on Thursday, thanks to higher cash cattle trade. The rest of the contracts were 15 lower to 30 higher. Feeder cattle futures settled 25 to 95 cents higher. The CME feeder cattle index was up $1.43 to $145.01. Wholesale boxed beef prices were higher on Friday. Choice boxes were up 59 cents at $233.65, with Select boxes $1.03 higher @ $220.49. USDA estimated weekly FI cattle slaughter at 638,000 head including Saturday. That would match the previous week and be 11,000 head above the same week a year ago. Cash cattle trade $130.20 in the north on Friday. The monthly USDA Cattle on Feed report showed the largest April 1 On Feed since the reporting series began in 1996. Numbers were up 2% from 2018, with March placements 4.8% larger than the same month a year ago. The Commitment of Traders report released over the weekend showed the large spec funds adding to their record bullish position in cattle by 3,693 contracts last week. That put them net long 152,634 contracts. ---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

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.