Schwieterman Cattle Comments

Schwieterman Cattle Commentary

Live Cattle

Trend

Short Term: Down

Long Term: Down

Opening Calls: Mixed

Live cattle futures closed moderately higher on Tuesday, with October picking up .73 for the day. October managed new weekly highs before retreating to midrange for settlement. Cutouts were higher, with choice +1.10 and select +.44. There were no confirmed cash sales for the day in the 2pm report. Equities are narrowly mixed in overnight trade, after a big up day on Tuesday. The Dollar is modestly weaker, following its’ lowest close since March.

Feeder Cattle

Trends

Short Term: Down

Long Term: Down

Opening Call: Mixed

Feeder cattle futures closed 2.67 higher in the active September contract on Tuesday, settling near session highs, with support from the fats and lower corn values. The cash index fell modestly to 245.09, with spot futures now 1.375 premium to the index. Overnight corn values are near unchanged. 

Bret Crotts
620-275-4133
888-437-9131
bret@swbell.net