Schwieterman Cattle Comments
Texas and Kansas traded fairly actively for $180, down $2 from a week ago. Cutouts were mixed, with choice +1.73 and select -1.28.
Schwieterman Cattle Commentary
Live Cattle
Trend
Short Term: Up
Long Term: Up
Opening Calls: Mixed
Live cattle futures finished moderately to sharply lower on Wednesday, as weaker cash started to circulate in the south. Texas and Kansas traded fairly actively for $180, down $2 from a week ago. Cutouts were mixed, with choice +1.73 and select -1.28. Equities recovered part of Tuesday selloff and the Dollar was off .25 for the session. Overnight equities are moderately higher and the Dollar is softer again.
Feeder Cattle
Trends
Short Term: Up
Long Term: Up
Opening Call: Mixed
Feeder cattle futures were the big loser on Wednesday, falling more than 2.00 in the active April contract. The market was off more than 4.00 for a while, before some late day recovery. Corn was making new contract and multi-year lows on Wednesday and the cash index had its’ first down day in nearly a month. Corn prices are trading narrowly mixed in early morning trade.
Bret Crotts
620-275-4133
888-437-9131
bret@swbell.net