Cattle Close in Red
Related Stocks
 LEJ24 - Live Cattle
SymLastChgPct
LEJ24184.625+1.025+0.56%
LEQ24177.850+1.175+0.67%
GFH24247.750-0.300-0.12%
GFJ24246.400-0.475-0.19%

Live cattle futures ended the Wednesday session 20 to 87 cents weaker in the front months. Feb contracts gave back $1.17 on the day. The FCE online auction was very quiet this morning with just 1 KS sale of $122 and one other $120 bid. Most of the feedlots were seeking $122+, as asks ranged $120 - $124. Reports of higher grading cattle selling for $124-$126 continued on Wednesday with light to moderate activity. Southern trade has yet to be tested with the few sales reported so far from $120 - $122. Feeders closed $1.80 to $2.65 weaker on Wednesday. The 6/21 Feeder Cattle Index from CME was another 66 cents stronger to $145.24.  

Ahead of the monthly CoF report, analysts are looking for 0.6% more cattle on feed June 1 than in 2020. That is expected from a 23.4% increase to May marketings and a 5% drop in placements reducing the yr/yr lead from 4.69% seen May to May. If realized that would be aprx 11.741 million head in 1,000+ capacity feedlots.  

Wholesale Boxed Beef were lower in the PM report. Choice boxes were $3.70 weaker and Select boxes were $4.34 lower. USDA’s estimate for the week’s FI cattle slaughter was 356,000 head. That trails last week by 1,000 head.  

Jun 21 Cattle  closed at $122.500, down $0.600,

Oct 21 Cattle  closed at $128.175, down $0.200,

Aug 21 Feeder Cattle  closed at $155.700, down $2.650

Sep 21 Feeder Cattle  closed at $158.075, down $2.275




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!-- [if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <div class="MsoNormal" align="center"> <p>Did you know Brugler Marketing &amp; Management has more to offer to you than just this free daily commentary?! 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