Feeder Cattle Sep '21 (GFU21)
Feeder Cattle Futures Market News and Commentary
Live cattle futures closed with June up 42 cents and other contracts 27 to 77 cents lower. Feeder cattle were up 52 cents to $1.85 on weakness in corn.. USDA confirmed cash sales this week from $138 to $146, with the bulk near $140 in the South and near $144 in the North. The 5/12 CME Feeder Cattle Index was down 25 cents to $156.36.
USDA quoted Wholesale Boxed Beef prices as $258.95 for Choice and $243.90 cwt. for Select this afternoon. That was a $1.75 gain and 46 cent drop respectively. Choice ribs were quoted at $401.38 cwt. in the PM repot. USDA estimates FI cattle slaughter at 657,000 head for the week through Saturday, that is unch wk/wk and up 13k head yr/yr.
The Commitment of Traders report showed managed money in live cattle cutting another 8,948 contracts from their net long position by 5/10. That net long was 29,949 contracts by Tuesday.
Jun 22 Cattle closed at $132.075, up $0.425,
Aug 22 Cattle closed at $132.350, down $0.425,
Oct 22 C... Read more
- Livestock futures technical analysis
We analyze livestock futures for the short-medium term
- Buying sparked by USDA reports and inflation
Corn planting progress watched carefully
- Cattle Mixed on Friday
Live cattle futures closed with June up 42 cents and other contracts 27 to 77 cents lower. Feeder cattle were up 52 cents to $1.85 on weakness in corn.....
- Hogs Sharply Higher in Front Months
Front month lean hog futures were up $2.22 to $3.05 on Friday, with exception to expiring May. The National Average Base Hog price for Friday was $101.47...
- Livestock Report
Hogs and Feeders recover, Cattle weakens
- Shootin' the Bull
In my opinion, the new contract high in corn, and narrower basis in feeder cattle, warrants a softening of my tone towards higher corn and lower feeder...