Schwieterman Cattle Comments

Schwieterman Cattle Commentary

Live Cattle

Trend

Short Term: Down

Long Term: Up

Opening Calls: Mixed

Live cattle futures closed sharply higher to start the week, with August leading the way, gaining 2.65 for the session. Cattle opened nearly 1.00 higher and spent most of the day gaining ground. Cutouts were mixed by days’ end, with choice +.67 and select -.10. Equities ended up moderately higher for the day and the Dollar was firm, as well. Our show list was up 13% from a week ago and 12% from a year ago. Macros are negative this morning, with lower equities and a higher Dollar.

Feeder Cattle

Trends

Short Term: Down

Long Term: Up

Opening Call: Mixed

Feeder cattle futures finished sharply higher on Monday, gaining 3.72 in the August for the day. The rally came on the back of strong fats and in spite of higher corn futures. The cash index ended up supportive, gaining 1.68 for the day to 252.88. Overnight corn values continue to ease higher, heading into the day session. 

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