Cattle Mixed on Spillover from Hogs

Live cattle futures are mixed at midday, with front months lower and deferred contracts steady to 40 cents higher. Feeder cattle futures are up 20 to 60 cents in most contracts. The CME feeder cattle index was down 57 cents on April 11 at $142.78. Wholesale boxed beef prices were higher on Monday morning, widening the Ch/Se spread to $10.11. Choice boxes were up $2.48 at $231.23, with Select boxes 10 cents higher at $221.12. USDA estimated weekly cattle slaughter at 634,000 head. That would be 13,000 larger than last week and 23,000 head above the same week a year ago. The weekly Commitment of Traders report indicated that specs in live cattle futures and options were just 4 contracts from their record net long position as of Tuesday at 148,941 contracts. That was 704 contracts above the past week.

Apr 19 Cattle are at $126.225, down $0.325,

Jun 19 Cattle are at $121.375, down $0.075,

Aug 19 Cattle are at $118.300, up $0.100,

Apr 19 Feeder Cattle are at $145.675, up $0.250

May 19 Feeder Cattle are at $150.825, up $0.325

Aug 19 Feeder Cattle are at $158.900, up $0.200

--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.