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BeefRead 10/30/2020 12:35
By Cassie Fish, http://cassandrafish.com A rally from the depths that began on Monday has turned psychology around dramatically. After scoring a new low for the move Monday, most active Dec LC rallied 580 points, back to spitting distance to its 100-day moving average. Oct LC expires at noon today and look to settle above the Aug LC 2020 expiration but ...
BeefRead 10/28/2020 12:42
By Cassie Fish, http://cassandrafish.com CME cattle futures are green again today, ignoring the global pandemic shimmy shake fears hitting equities, grains, and other markets. This seems only fair since cattle were in their own isolated decline the last couple of weeks. Technically, cattle futures are in a strong rally mode, feeder cattle futures leading the way. Open interest increased on ...
BeefRead 10/27/2020 13:31
By Cassie Fish, http://cassandrafish.com Now that a record number of net short contracts are held by managed funds in feeder cattle futures totaling 8,521 contracts, feeder futures are rallying, most active Jan up 520 points in a week. Last week’s high lies just above at $129.75 then the 40-day and 100-day up around $136 to $138. Nothing happens methodically if ...
BeefRead 10/26/2020 13:30
There is plenty of known bearish news around. Friday’s USDA Cattle-on-Feed report’s placement number for September was up 6 percent from a year ago (a lighter month thanks to the Tyson Finney County fire) about 3 to 4 percent above analysts’ expectations. Nebraska and Kansas led the states in placements and the result was a record number of cattle on ...
BeefRead 10/23/2020 12:37
By Cassie Fish, http://cassandrafish.com CME cattle futures have acted pretty good today after multiple days of a dramatic sell-off. Has the market gotten cheap enough? Looking out through the 2021 strip, the highest priced contract is April 2021 at just under $110, only $1.75 cheaper than the cash cattle average top two weeks ago. After this $10 break, prices appear ...
BeefRead 10/22/2020 13:49
By Cassie Fish, http://cassandrafish.com CME cattle futures are in a free fall, led by most active Dec LC and Feb LC. The Oct/Dec LC spread is into even money, unthinkable by most at the beginning of this week. To say this week’s sell-off is stunningly bad is an understatement. Oct LC is below the Aug LC expiration. The entire complex ...
BeefRead 10/21/2020 13:07
By Cassie Fish, http://cassandrafish.com CME cattle futures rallied off an ugly low yesterday and have spent todaytrading both sides of steady. Feeder cattle futures, which led the big breakdown, followed by deferred live cattle futures act the strongest while thefront months of live cattle futures flounder. Cash cattle prices have tumbled this week as basis traders rang theregister. Cash prices ...
BeefRead 10/20/2020 10:54
Thank you for reading The Beef! Today we want to take the opportunity to highlight our Resource Page in The Beef. Just click on the Resource Page button at the top to view. We are proud of this special component as part of The Beef and the value it brings to our readers. Also a huge thanks to our sponsors for ...
BeefRead 10/19/2020 13:24
By Cassie Fish, http://cassandrafish.com The sharp decline and massive liquidation experienced by CME live cattle futures last week is continuing today more intensely. Last week LC futures lost 15k in open interest and declined 400 points only to add another 300 to that loss today in dramatic and intimidating fashion. Cattle open interest for October is its lowest since October ...
BeefRead 10/16/2020 13:05
By Cassie Fish, http://cassandrafish.com It has been a disappointing week for cattle futures bulls or sellers of fed cattle. Futures have had an unexpectedly big down week, losing 13k in open interest in 4 days. Most active Dec LC is down almost 400 points from last Friday’s close and 447 points from last Friday’s high. Today’s Dec LC low is ...
BeefRead 10/15/2020 12:49
By Cassie Fish, http://cassandrafish.com The second largest cattle slaughter since social distancing was confirmed today by the USDA, 664k head, just 1k less than the 665k posted in June. However, the fed slaughter that same week was 525k head however, 8k less than that same week in June when the fed slaughter was 533k. This also falls short of larger ...
BeefRead 10/14/2020 12:54
By Cassie Fish, http://cassandrafish.com Someone wants out of cattle futures. OI lost 9300 contracts already this week and though futures had a nice rally off the lows yesterday and tried to follow-through higher today, the market soon failed again. No one seems to know where the relentless selling is coming from. The only hint is that the most recent Commitment ...
BeefRead 10/13/2020 12:46
By Cassie Fish, http://cassandrafish.com After a huge open interest dump yesterday of 6k contracts on a hard down day, CME cattle futures tried to rally early only to give way to new lows for the move- with the exception of spot Oct LC. Feeder cattle futures have been signaling it for weeks, well below their 100-day moving average and now ...
BeefRead 10/09/2020 12:57
By Cassie Fish, http://cassandrafish.com Negotiated cash cattle are trading today at $109 in the south, the highest since the week ending June 5, when cash averaged $112.39. As feedlots become more current, leverage is ever so slowly shifting more to the cattle feeder. Last week’s average was just over $107. It’s too soon to know the final tally for volume, ...
BeefRead 10/07/2020 12:44
By Cassie Fish, http://cassandrafish.com It’s not the most exciting rally to watch, but CME live cattle futures keep inching higher, Oct LC making a new high for the move and Dec LC posting an outside day with a great shot of a higher close. Yesterday’s deliveries magically disappeared and there were no new tenders. The futures strength occurred just as ...
BeefRead 10/01/2020 13:21
By Cassie Fish, http://cassandrafish.com The negotiated cash cattle trade got underway yesterday trading and continuing today at $107. In mid-August, cash averaged $106.59, the highest since early June when the cash left a monster gap between $112.39 and $104.98 using the 5-area average. Likely this week’s average will exceed the August high and cash will move higher over the course ...
BeefRead 09/30/2020 11:59
By Cassie Fish, http://cassandrafish.com CME cattle futures posted impressive gains yesterday accompanied by 63k in volume and 6.4k contract increase in open interest, pushing OI to almost 304k for the first time in months. Today’s action has been green, but quiet, the market gathering energy after yesterday’s push. Quite telling in hindsight, the support on futures breaks since early September ...
BeefRead 09/24/2020 13:32
By Cassie Fish, http://cassandrafish.com It is a pretty dull trade to watch but CME cattle futures have managed to build on yesterday’s gains today. At the same time, it looks as if cash cattle will trade another $1to $1.50 higher this week than last week. And boxed beef prices have unexpectedly advanced mid-week, giving many hope that the cutout has ...
BeefRead 09/03/2020 12:51
By Cassie Fish, http://cassandrafish.com Each day this week has seen cash cattle prices leak lower. Today trade has occurred at $102 in Texas and western Nebraska, new lows for the week following $104, then $103 trades. Volume is light as some cattle feeders are reluctant to hit lower bids as some believe cash cattle prices will be higher next week. ...

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