Cattle Market Sees 5 Year Low in Beef Inventory

Live cattle futures saw 65 to 85 cent gains in the front months on Monday, following Friday’s USDA reports. Feeder cattle futures received some additional help from weaker corn, with the front months $2.20 to $2.625 higher. The monthly NASS Cold Storage report indicated another drop in frozen beef stocks to 394.525 million lbs on June 30. That was down 2.62% from May and 12.05% below a year ago to reach a 5-year low. That is the first time beef stocks have been under 400 million lbs since Oct 2014. The CME feeder cattle index was down 49 cents @ $138.16 on July 19. Wholesale boxed beef prices were mixed on Monday afternoon with Choice boxes down a dime per cwt at $213.32 and Select boxes 8 cents higher @ $189.59. USDA estimated Monday’s FI cattle slaughter at 114,000 head, which is 3,000 head below last week and 4,000 above the same Monday last year.

--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
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.