Live cattle futures are trading $1.25 to $2.125 higher on Monday, thanks to the firm cash cattle trade late on Friday. Feeder cattle futures are up $1.35 to $1.825. The CME feeder cattle index was up 66 cents on April 12 at $136.42. Wholesale boxed beef values were mixed on Monday morning. Choice boxes were 47 cents lower at $212.14, with Select boxes up 64 cents at $200.55. Estimated weekly FI cattle slaughter was 605,000 head last week. 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 CFTC cattle net long position to only 27,255 contracts as of Tuesday, down 9,395 from the previous week.

Apr 18 Cattle are at $118.375, up $1.825,

Jun 18 Cattle are at $105.775, up $2.125,

Aug 18 Cattle are at $105.525, up $1.250,

Apr 18 Feeder Cattle are at $140.975, up $1.600

May 18 Feeder Cattle are at $142.200, up $1.825

Aug 18 Feeder Cattle are at $146.450, up $1.350

Market Commentary provided by:

Brugler Marketing & Management LLC
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