Live cattle are trading off their lows for midday by $2, but are still 37 to 55 cents weaker. The June contracts were a net 97c weaker through the month of March, after a wide monthly range from -$4.80 to +$5.40. USDA reported Thursday cash trade from $184 to $189, but cited the bulk of action ~$2 lower wk/wk at $186.
Feeder cattle futures are starting the new week and the new month with 30 to 95 cent gains through midday. Futures have already seen a $3.50 range for the session. USDA reported 3.5k feeders were sold in the weekly OKC feeder auction. CME Feeder Cattle index was $248.99 on 3/27.
The April 1st AM boxed beef quotes were $305.05 and $302.16 for Choice and Select respectively. Each were more than $1 weaker. The week’s FI cattle slaughter was 483k head through Thursday. That is running 8k head ahead of last week’s pace but 18k head under the same week last year.
April 24 Cattle are at $184.900, down $0.100,
Jun 24 Cattle are at $179.900, down $0.350,
Aug 24 Cattle are at $177.725, down $0.475,
Cash Cattle Index was $184.000, from $188.00 last week
Mar 24 Feeder Cattle are at $247.750, down $0.300
April 24 Feeder Cattle are at $247.600, up $0.475
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