Cattle Close Mixed, Show Record Fund Net Short Position

Live cattle futures settled the Friday session with most contracts 10 to 65 cents lower, as October was down 3.37% this week. Feeder cattle futures were mixed, with nearby Sep down 35 cents and other front months steady to 12.5 cents higher. The CME Feeder Cattle Index was 56 cents lower on September 12 at $136.09. Wholesale boxed beef prices were firm to higher on Friday afternoon. Choice boxes were up 91 cents at $220.88, with Select boxes unch @ $198.60. USDA estimated weekly FI cattle slaughter @ 629,000 through Saturday. That is down 27,000 head from the same week a year ago. Cash trade was reported at $100 in the South and $100-101 in NE on Friday. Commitment of Traders data showed spec funds in live cattle futures and options net short for the first time on record at -6,232 contracts. They also held a record net short position in feeder cattle futures and options at -7,214 contracts on September 10.

OCT 19 Cattle closed at $98.075, down $0.650,

DEC 19 Cattle closed at $104.375, down $0.575,

FEB 20 Cattle closed at $111.100, down $0.100,

SEP 19 Feeder Cattle closed at $136.500, down $0.350

OCT 19 Feeder Cattle closed at $134.575, up $0.075

NOV 19 Feeder Cattle closed at $134.025, up $0.125

-- provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
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