Cattle
BRUG - Fri Aug 18, 12:07PM CDT

Live cattle futures are currently 15 to 35 cents higher in the nearby contracts on Friday. Feeder cattle futures are seeing gains of 70 cents to $1.175. The CME feeder cattle index was 5 cents lower than the previous day at $144.44 for August 16. Wholesale beef prices were lower again in the Friday morning report, with choice down 57 cents at $195.06 and select boxes $1.70 lower at $192.50. The CH/SE spread is now at $2.56. Cash sales of $110-$110.50 were reported across most regions yesterday, down $5 from last week. Week to date FI cattle slaughter was estimated at 467,000 head through Thursday, 2,000 fewer than last week but 14,000 larger than the same week last year. Thursday’s export sales report showed Japan, again the lead buyer at 3,000 MT, as their tariff on frozen beef was increased to 50% on Aug 1. We are assuming that these latest purchases are either fresh beef (not affected by the tariff increase) or to price elastic markets. Total beef export commitments are 5.7% larger than last year.

Aug 17 Cattle are at $107.450, up $0.325,

Oct 17 Cattle are at $106.575, up $0.350,

Dec 17 Cattle are at $108.425, up $0.150,

Aug 17 Feeder Cattle are at $141.650, up $1.175

Sep 17 Feeder Cattle are at $141.500, up $0.775

Oct 17 Feeder Cattle are at $141.175, up $0.700




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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