Cattle Market Gains for Weekend

Fat cattle futures closed the Friday session with $0.75 to $2.62 gains. The markets were closed prior to the monthly CoF numbers. Feeder cattle futures ended the last trade day of the week with gains of $1.37 to the limit of $5 (March). The CME Feeder Cattle Index recovered 38 cents on 1/20 to $133.19. Cash trade this week was mostly $110-$111 for TX, $109-$111 for KS and $109-$110 for North. There were some WCB deals for $106. USDA’s CoF report showed 11.965 million head at 1,000+ head feedlots. That was 7k head above Jan 2020, when trade was expecting a slight drop. December marketings were 1.04% higher yr/yr. December placements were 1.842m head, up 0.77% yr/yr. USDA’s weekly Export Sales report showed 24,500 MT of beef sold on the week ending 1/14. Wholesale Boxed Beef prices continued climbing. Choice boxes were up $1.62/cwt. to $222.82 and Select boxes were $3.06/cwt. higher at $213.34. CFTC reported live cattle spec traders were 46,227 contracts net long as of 1/19. For feeders, the CoT report showed managed money flipped net short. USDA’s estimates another strong Saturday kill, bringing the WTD estimate to 657,000 head. USDA’s estimate for YTD cattle slaughter is 9.8% behind last year’s pace with 2.028 million head.

Feb 21 Cattle closed at $116.725, up $2.625,
Apr 21 Cattle closed at $122.525, up $2.575,
Jun 21 Cattle closed at $118.800, up $1.675,
Jan 21 Feeder Cattle closed at $137.250, up $1.375
Mar 21 Feeder Cattle closed at $144.150, up $5.000
Apr 21 Feeder Cattle closed at $146.125, up $4.250

--- 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
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.