Cattle

Live cattle futures were mixed on Friday, with nearby April 80 cents higher as it rose 3.85% on the week. Feeder cattle futures were 15 to 70 cents higher, with April 2.99% higher since last Friday. The CME feeder cattle index was up 66 cents on April 12 at $136.42. Wholesale boxed beef values were mixed on Friday afternoon. Choice boxes were 13 cents higher at $212.61, with Select boxes down 76 cents at $199.91. Estimated weekly FI cattle slaughter was 605,000 head.. That is 10,000 below the previous week but up 16,000 head from the same week in 2017. Cash trade picked up after Friday’s futures close with sales of $120-121 reported, with some confirmed @ $122. Managed money trimmed their cattle net long position to only 27,255 contracts as of Tuesday, down 9,395 from the previous week.




Market Commentary provided by:

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