Cattle Rebounds Makes Gains

Live cattle futures rebounded after midday lows, with gains as much as 90 cents. Feeder cattle futures gained triple digits with help from cheaper feed. The 11/07 CME Feeder Cattle index was down 25 cents to $145.84. UPS logistics, partnering with HerdX, have successfully sold, and shipped beef to Japan using block chain technology. Wholesale boxed beef prices were mixed. Choice boxes were down on Monday by 53 cents to $238.59. Select boxes gained 43 cents on the day to finish at $213.69. The WASDE indicated that US 4th quarter beef production would be 88 million lbs higher than October’s projection, forecasted to bring the yearly production to 27,036 million lbs (about 1% above last year). USDA estimated FI cattle slaughter is 112,000 head for this Veterans Day, last week’s total was estimated at 651,000 head.

DEC 19 Cattle closed at $119.875, up $0.625,

FEB 19 Cattle closed at $125.675, up $0.650,

APR 20 Cattle closed at $127.000, up $0.900,

NOV 19 Feeder Cattle closed at $147.575, up $0.575

JAN 19 Feeder Cattle closed at $147.125, up $1.250

MAR 19 Feeder Cattle closed at $146.700, up $1.200

--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

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.