Cattle Futures Sell Off, Basis Goes Positive
Related Stocks
 LEM21 - Live Cattle
SymLastChgPct
LEM21115.575-3.025-2.55%
LEV21123.925-2.625-2.07%
GFK21137.425+0.675+0.49%
GFQ21150.350-0.175-0.12%

Live cattle futures closed the Friday session with losses of $0.72 to $2.45, with April the firmest and June the weakest. Through the week, the April/June spread corrected from a $2.25 discount to an 85 cent premium April. Long liquidation was noted on Friday, with preliminary open interest dropping 3,102 contracts. USDA confirmed some more $125 trade in the WCB on Friday, for the week cash trades ranged $120 - $125 with the bulk near $123. Feeder cattle futures closed Friday with $1.45 to $2.37 losses. The CME Feeder Cattle Index was up 28 cents on 4/6 at $139.98.     

Wholesale Boxed Beef prices were higher on Friday, adding $1.67 to Choice at $272.17. Select boxes were up 24 cents to $264.07 cwt. USDA’s estimate for the week’s FI cattle slaughter is 641,000 head.

Apr 21 Cattle  closed at $123.425, down $0.725,

Aug 21 Cattle  closed at $122.400, down $1.625,

Apr 21 Feeder Cattle  closed at $144.750, down $2.375

May 21 Feeder Cattle  closed at $149.625, down $1.975




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.