Cattle Futures Higher on $2-3 Pop in Cash

Live cattle futures saw a $1.60 pop in nearby April futures, thanks to higher cash cattle trade. The rest of the contracts were 15 lower to 30 higher ahead of the monthly USDA Cattle on Feed report. Feeder cattle futures settled 25 to 95 cents higher. The CME feeder cattle index was up $1.40 to $144.98 on April 17. Wholesale boxed beef prices were mixed. Choice boxes were up 30 cents at $233.06, with Select boxes $.70 lower at $219.46. USDA estimated week to date FI cattle slaughter at 485,000 head through Thursday. That would be 14,000 larger than last week and also 14,000 head above the same week a year ago. Cash cattle trade was $2 or more above week ago @ $126 in the south and $130-132 in the north. USDA weekly beef export sales were much improved at 28,800 MT, mostly to South Korea and Japan. The monthly USDA Cattle on Feed report showed the largest April 1 On Feed since the reporting series began in 1996. Numbers were up 2% from 2018, with March placements 4.8% larger than the same month a year ago.

Apr 19 Cattle closed at $128.525, up $1.600,

Jun 19 Cattle closed at $122.675, up $0.300,

Aug 19 Cattle closed at $119.750, up $0.200,

Apr 19 Feeder Cattle closed at $145.700, up $0.375

May 19 Feeder Cattle closed at $151.525, up $0.925

Aug 19 Feeder Cattle closed at $160.675, up $0.225

---provided by Brugler Marketing & Management

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