Cattle Down Triple Digits Following Thursday’s COF Report
BRUG - Mon Apr 22, 12:09PM CDT

Live cattle futures are showing $1.10 to $1.40 losses at midday, with April 20 cents lower. This is fallout from the Cattle on Feed report. Feeder cattle futures are $1.10 to $2.475 lower on Monday. The CME feeder cattle index was up $1.43 to $145.01. Wholesale boxed beef prices were higher on Monday. Choice boxes were up 98 cents at $234.63, with Select boxes $1.46 higher @ $221.95. 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 traded $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.

Apr 19 Cattle are at $128.325, down $0.200,

Jun 19 Cattle are at $121.275, down $1.400,

Aug 19 Cattle are at $118.425, down $1.325,

May 19 Feeder Cattle are at $150.425, down $1.100

Aug 19 Feeder Cattle are at $159.200, down $1.475

Sep 19 Feeder Cattle are at $160.250, down $1.825

---provided by Brugler Marketing & Management




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