Cattle Market Closes Mostly Higher
Related Stocks
 LEM21 - Live Cattle
SymLastChgPct
LEM21118.700s+1.125+0.96%
LEV21125.775s+1.575+1.27%
GFQ21151.175s+2.775+1.87%
GFU21153.525s+2.625+1.74%

Front month cattle futures gave back most of the early session gains, and went into the weekend mixed but mostly higher. October and December contracts were UNCH to 2 cents in the red, but June was up 55 cents. USDA reported catch up Friday sales in KS for $119. The full range of cash sales for the week was $117 to $119, though most were $119. At the close for the week, feeder cattle had given back the $2 midday gains to close up by 27 to 87 cents. The thin May maintained a triple digit gain of $1.25. The CME Feeder Cattle Index for May 6th was down by another 73 cents to $130.83.     

Wholesale Boxed Beef prices were mixed in the Friday report. Choice boxes were down 49 cents to $305.88 but Select was 91 cents stronger to $290.27. Both were up more than 2% for the week as a whole. USDA quoted Choice rib primals at $5.22 cwt. The week’s cattle slaughter through Saturday was estimated at 638,000 head.That is down from 649,000 head last week. YTD slaughter is to 11.92m head.  

The weekly CFTC data release showed net selling from cattle specs through the week ending May 4th. That reduced the groups net long by 6,030 contracts to 48,865 – the lowest since January. For feeders, managed money’s new selling flipped the group to net short by 913 contracts. T

Jun 21 Cattle  closed at $116.025, up $0.550,

Oct 21 Cattle  closed at $123.450, down $0.025,

May 21 Feeder Cattle  closed at $131.725, up $1.250

Aug 21 Feeder Cattle  closed at $144.275, up $0.875




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

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.