Fat cattle futures ended the day with losses of as much as 3.4% with triple digit losses of $5 or more. June was still $1.30 off the session low. USDA reported Thursday cash trade from $184 to $189, but cited the bulk of action ~$2 lower wk/wk at $186. Feeder cattle futures closed the first trading day of the new month with $6.02 to $7.37 losses. 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.
Apr 24 Cattle closed at $180.075, down $4.925,
Jun 24 Cattle closed at $175.325, down $4.925,
Aug 24 Cattle closed at $172.100, down $6.100,
Mar 24 Feeder Cattle closed at $247.750, down $0.300
Apr 24 Feeder Cattle closed at $240.425, down $6.700
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