Cattle Gain on Friday

Live cattle futures closed the Friday session with gains of 45 to 97 cents. April futures were the strongest gainer, with a $116.27 close and a $1.32 gain on the day. Feeder cattle futures closed with triple digit gains of $1.97 to $2.45. The CME Feeder Cattle Index was $1.04 lighter at $134.45 on 1/14. Friday cash trading ahead of the three day weekend was mostly quiet, the bulk of Southern deals this week was near $111 while Northern trades were mostly $106-$109. Wholesale Boxed Beef prices were mixed, but tightened the Chc/Sel spread back to $9.84. Choice boxes were $212.92 down by 45 cents. Select boxes were $2.01 higher to $203.08. CFTC data showed that cattle spec traders reduced their net long 3,161 contracts on new selling interest for the week ending 1/12. On net, managed money was net long 42,827. In feeders, spec traders were near net neutral with a 13 contract net long on 1/12. USDA estimates WTD FI cattle slaughter through Saturday at 651,000 head. That matches last week on another strong Saturday and is up 18k head yr/yr. YTD slaughter is estimated at 1.369 million head, compared to 1.605 million head at this point in 2020.

Feb 21 Cattle closed at $112.775, up $0.700,
Apr 21 Cattle closed at $118.200, up $0.975,
Jun 21 Cattle closed at $116.275, up $1.325,
Jan 21 Feeder Cattle closed at $134.575, up $1.975
Mar 21 Feeder Cattle closed at $135.825, up $2.450
Apr 21 Feeder Cattle closed at $138.300, up $2.300

--- 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.