Schwieterman Cattle Comments

Cash trade was a non-event on Monday, with 250 reported with a price of $137.50.

Schwieterman Cattle:   Dec-April scored new contract highs on Friday

Live Cattle
Trend
Short Term: Up
Long Term: Up
Opening Calls: Mixed

Live cattle futures reversed from new contract highs to triple digit losses on Monday, but did manage to hold above Friday's lows. Cutouts also reversed from higher trade in the morning to lower on the day, with choice - 2.43 and select -.26. Cash trade was a non-event on Monday, with 250 reported with a price of $137.50.   Equities and the Dollar are sharply lower overnight, with most of the commodity world showing weakness.

Feeder Cattle
Trends
Short Term: Up
Long Term: Up
Opening Call: Mixed

Feeder cattle futures, like the fats posted new highs for the move, before reversing to close with triple digit losses on Monday. The cash index jumped up to 161.29 on Monday, narrowing the gap with January futures to around 4.50. Corn prices are off 6-7 cents as we write. Early calls suggest some additional weakness to start the session.

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

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