Cattle Market Commentary

Live cattle futures are showing 45 to 60 cent gains on Thursday. Feeder cattle futures are up 40 to 85 cents. The CME feeder cattle index was down 44 cents on November 6 at $152.88. Wholesale boxed beef prices were lower on Thursday morning. Choice boxes were down 62 cents @ $217.60, with Select 75 cents lower at $201.02. USDA estimated FI cattle slaughter at 119,000 head on Wednesday, with the WTD total at 357,000 head. That is 5,000 above the previous week and the same day last year. Cash cattle trade has still to develop, with packer bids starting at $113 in the south and $180 in the north. Asking prices from producers appear to be $118 in the south and $182+ in the north. Export sales of beef in the week of 11/1 were tallied at 11,504 MT this morning, with shipments in that week at 16,003 metric tonnes (MT). The USDA S&D table showed 2018 beef production down 30 million pounds at 26.914 billion. Beef production for 2019 was 100 million lower at 27.810 billion pounds on lower first quarter production.

Dec 18 Cattle are at $116.675, up $0.575,

Feb 19 Cattle are at $120.050, up $0.450,

Apr 19 Cattle are at $121.900, up $0.575,

Nov 18 Feeder Cattle are at $150.325, up $0.400

Jan 19 Feeder Cattle are at $146.650, up $0.825

Mar 19 Feeder Cattle are at $144.925, up $0.750

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
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