Cattle Futures Weak Ahead of Expected Bearish USDA COF Report
Related Stocks
 LEM21 - Live Cattle

While grains had a rally Thursday, livestock were left out. Fat cattle futures closed with triple digit losses of $0.97 to $1.45. Feeders were $2.57 to $3.55 lower in the front months at the close. Cash cattle trading this week remains light, with reported sales so far from $119 - $120 in the South. Northern dressed deals have been mostly $192 for the week so far. The April 20 CME Feeder Cattle Index was another 15 cents weaker at $138.33.     

The monthly Cold Storage report showed March beef stocks were tighter than Feb levels at 483.65m lbs. That was also 3.7% below March 2020, after Feb stocks were 3.6% above Feb 2020. All meat inventory was the tightest for the month since 2014.

Wholesale Boxed Beef prices were again stronger on Thursday as Choice boxes were up $1.85 to $282.31, and Select boxes were $1.81 stronger at $273.69. USDA’s estimate for federally inspected cattle slaughter is 478,000 head through Thursday. That is up 21k head wk/wk.  

Apr 21 Cattle  closed at $118.325, down $1.450,

Aug 21 Cattle  closed at $116.725, down $1.250,

Apr 21 Feeder Cattle  closed at $132.250, down $2.850

May 21 Feeder Cattle  closed at $137.025, down $2.575

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.