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 FI cattle slaughter is at 605,000 head through Saturday. That is 10,000 below the previous week on lighter Saturday slaughter but up 16,000 head from the same week in 2017. Cash trade picked up after Friday’s close with sales of $120-121 reported, as a few reached $122. Managed money trimmed their cattle net long position to only 27,255 contracts as of Tuesday, down 9,395 from the previous week.

Apr 18 Cattle closed at $116.550, up $0.800,

Jun 18 Cattle closed at $103.650, down $0.050,

Aug 18 Cattle closed at $104.275, unch,

Apr 18 Feeder Cattle closed at $139.375, up $0.500

May 18 Feeder Cattle closed at $140.375, up $0.400

Aug 18 Feeder Cattle closed at $145.100, up $0.150

Market Commentary provided by:

Brugler Marketing & Management LLC
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