Cattle Complex Mixed
Alan Brugler - Barchart - Fri Apr 23, 4:45PM UTC
Related Stocks
 LEJ24 - Live Cattle
SymLastChgPct
LEJ24183.950s+1.850+1.02%
LEQ24176.050s+2.675+1.54%
GFK24246.250s+2.150+0.88%
GFQ24258.300s+2.000+0.78%

With indecisiveness in the corn market, cattle futures are mixed at midday. Nearby fats are 20 to 80 cents in the red through August, but fall and winter deliveries are trading in the black. Feeders are higher with gains of a nickel to 82 cents. April feeders are $1.62 higher, but expire next Thursday. Cash cattle trading on Thursday was light again, with some deals from $118 to $124, though most sales matched the week’s bulk of $119 - $121. The April 20 CME Feeder Cattle Index was another 15 cents weaker at $138.33.     

Pre report estimates for the monthly CoF report this afternoon show analysts surveyed expect April 1 cattle on feed to be higher yr/yr. The average of estimates is for 11.986m head, or plus 6.1%. Placements are expected to be above March ’20 by 33.7% on average. The 2020 placements were badly depressed by COVID issues. March marketings are estimated to have increased by 0.5% to 1.6% yr/yr, with the average of estimates for 2.032m head marketed. 

Wholesale Boxed Beef prices were mixed in the morning report, with a $1.01 increase for Choice and a $1.28 drop in Select. USDA’s estimate for federally inspected cattle slaughter is 478,000 head through Thursday. That is up 21k head wk/wk.  

Apr 21 Cattle  are at $117.675, down $0.650,

Aug 21 Cattle  are at $116.625, down $0.100,

Apr 21 Feeder Cattle  are at $134.175, up $1.925

May 21 Feeder Cattle  are at $137.275, up $0.250



<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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